StockNews.com Downgrades Mattel (NASDAQ:MAT) to Hold

Mattel (NASDAQ:MAT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. boosted their target price on Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Morgan Stanley upped their price target on shares of Mattel from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. DA Davidson reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Mattel in a research note on Thursday, October 24th. Finally, Bank of America raised their target price on shares of Mattel from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $23.86.

Mattel Trading Up 1.5 %

NASDAQ:MAT opened at $19.06 on Friday. Mattel has a 12-month low of $15.87 and a 12-month high of $20.59. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.45 and a quick ratio of 1.88. The business has a 50 day simple moving average of $18.46 and a 200 day simple moving average of $18.74. The firm has a market capitalization of $6.42 billion, a P/E ratio of 11.91, a P/E/G ratio of 0.86 and a beta of 0.75.

Hedge Funds Weigh In On Mattel

A number of hedge funds have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Mattel by 3.1% during the third quarter. State Street Corp now owns 10,517,270 shares of the company’s stock worth $200,354,000 after buying an additional 318,125 shares during the last quarter. Franklin Resources Inc. lifted its stake in Mattel by 84.0% in the third quarter. Franklin Resources Inc. now owns 9,352,223 shares of the company’s stock valued at $176,757,000 after buying an additional 4,270,162 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Mattel by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,291,976 shares of the company’s stock worth $119,862,000 after buying an additional 27,204 shares during the period. Geode Capital Management LLC raised its position in shares of Mattel by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,134,691 shares of the company’s stock valued at $116,896,000 after acquiring an additional 17,309 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Mattel by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,263,611 shares of the company’s stock valued at $81,222,000 after purchasing an additional 114,305 shares in the last quarter. 97.15% of the stock is owned by institutional investors and hedge funds.

About Mattel

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.