Mattel (NASDAQ:MAT) Given New $26.00 Price Target at Bank of America

Mattel (NASDAQ:MAT) had its price target hoisted by equities researchers at Bank of America from $25.00 to $26.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 34.30% from the stock’s previous close.

A number of other brokerages have also recently issued reports on MAT. Stifel Nicolaus reduced their price objective on Mattel from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. TheStreet lowered Mattel from a “b-” rating to a “c+” rating in a research note on Wednesday, January 24th. StockNews.com raised shares of Mattel from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. lowered shares of Mattel from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $24.00 to $19.00 in a report on Monday, February 5th. Finally, Roth Mkm reissued a “neutral” rating and issued a $21.00 price target on shares of Mattel in a report on Wednesday. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.78.

Mattel Price Performance

Shares of NASDAQ:MAT traded up $0.63 during trading on Wednesday, reaching $19.36. The company had a trading volume of 4,084,335 shares, compared to its average volume of 2,988,926. The stock has a market capitalization of $6.66 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 1.24 and a beta of 0.95. The company has a current ratio of 2.33, a quick ratio of 1.90 and a debt-to-equity ratio of 1.08. Mattel has a 12 month low of $16.20 and a 12 month high of $22.64. The company has a fifty day moving average of $19.30 and a two-hundred day moving average of $19.08.

Mattel (NASDAQ:MAT) last issued its earnings results on Tuesday, April 23rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. The business had revenue of $809.50 million during the quarter, compared to analyst estimates of $833.52 million. Mattel had a return on equity of 21.25% and a net margin of 3.94%. Mattel’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. Equities research analysts forecast that Mattel will post 1.37 earnings per share for the current year.

Institutional Trading of Mattel

Hedge funds have recently bought and sold shares of the company. Trust Co. of Vermont grew its stake in shares of Mattel by 833.3% during the 3rd quarter. Trust Co. of Vermont now owns 1,120 shares of the company’s stock valued at $25,000 after purchasing an additional 1,000 shares during the period. Clearstead Advisors LLC purchased a new position in Mattel during the third quarter valued at $52,000. Y.D. More Investments Ltd purchased a new stake in Mattel in the third quarter worth about $53,000. Fifth Third Bancorp raised its stake in shares of Mattel by 23.3% in the third quarter. Fifth Third Bancorp now owns 2,908 shares of the company’s stock worth $64,000 after buying an additional 550 shares during the period. Finally, Partnership Wealth Management LLC purchased a new position in shares of Mattel during the 4th quarter valued at about $61,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Mattel Company Profile

Mattel, Inc, a toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as books, content, gaming, and lifestyle products for children under the Barbie, American Girl, Disney Princess and Disney Frozen, Monster High, and Polly Pocket brands; die-cast vehicles, tracks, playsets, and accessories for kids, adults, and collectors under the Hot Wheels, Hot Wheels Monster Trucks, Hot Wheels Mario Kart, Matchbox, and Cars brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other consumer products under the Fisher-Price, Little People and Imaginext, and Thomas & Friends, and Power wheels brands.