Mattel (NASDAQ:MAT) Rating Lowered to Sell at BidaskClub

BidaskClub cut shares of Mattel (NASDAQ:MAT) from a hold rating to a sell rating in a research note released on Wednesday, BidAskClub reports.

Several other brokerages have also issued reports on MAT. UBS Group set a $14.00 target price on Mattel and gave the company a hold rating in a research note on Wednesday, May 8th. Zacks Investment Research upgraded Mattel from a strong sell rating to a hold rating in a research note on Tuesday, April 23rd. MKM Partners boosted their target price on Mattel from $13.00 to $14.00 and gave the company a neutral rating in a research note on Friday, April 26th. Cfra restated a hold rating on shares of Mattel in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. upgraded Mattel from a neutral rating to an overweight rating in a research note on Tuesday, June 4th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $14.31.

Shares of Mattel stock opened at $9.44 on Wednesday. The business’s fifty day simple moving average is $12.08 and its 200 day simple moving average is $12.50. The firm has a market capitalization of $3.50 billion, a P/E ratio of -8.28 and a beta of 1.55. Mattel has a 12 month low of $9.09 and a 12 month high of $17.26. The company has a current ratio of 1.78, a quick ratio of 1.11 and a debt-to-equity ratio of 6.78.

Mattel (NASDAQ:MAT) last issued its quarterly earnings results on Thursday, July 25th. The company reported ($0.25) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.10. The business had revenue of $860.10 million for the quarter, compared to analyst estimates of $822.24 million. Mattel had a negative return on equity of 28.70% and a negative net margin of 6.00%. Mattel’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company posted ($0.56) earnings per share. Analysts predict that Mattel will post -0.58 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Primecap Management Co. CA grew its position in Mattel by 1.8% during the second quarter. Primecap Management Co. CA now owns 51,773,109 shares of the company’s stock worth $580,377,000 after buying an additional 932,710 shares in the last quarter. BlackRock Inc. grew its position in Mattel by 34.9% during the second quarter. BlackRock Inc. now owns 37,850,491 shares of the company’s stock worth $424,305,000 after buying an additional 9,786,835 shares in the last quarter. EdgePoint Investment Group Inc. grew its position in Mattel by 37.8% during the second quarter. EdgePoint Investment Group Inc. now owns 36,340,435 shares of the company’s stock worth $407,376,000 after buying an additional 9,962,282 shares in the last quarter. FMR LLC boosted its holdings in shares of Mattel by 22.2% in the 1st quarter. FMR LLC now owns 7,832,807 shares of the company’s stock worth $101,826,000 after purchasing an additional 1,421,076 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in shares of Mattel in the 2nd quarter worth about $55,087,000.

About Mattel

Mattel, Inc, a children's entertainment company, designs and produces toys and consumer products worldwide. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, content, gaming, and lifestyle products for children under the Barbie brand; diecast cars, tracks, playsets, and play products for kids, adults, and collectors under the Hot Wheels brand name; content, toy, live events, and other lifestyle products under the Fisher-Price and Thomas & Friends brands; and dolls and books under the American Girl brand name.

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Analyst Recommendations for Mattel (NASDAQ:MAT)

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