Mattel (NASDAQ:MAT) Reaches New 1-Year High Following Better-Than-Expected Earnings

Mattel, Inc. (NASDAQ:MAT) shares hit a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $21.35 and last traded at $21.22, with a volume of 2233923 shares changing hands. The stock had previously closed at $18.07.

The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.20 by $0.15. Mattel had a net margin of 10.24% and a return on equity of 25.39%. During the same period in the prior year, the firm posted $0.29 EPS.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. StockNews.com lowered Mattel from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Jefferies Financial Group upgraded shares of Mattel from a “hold” rating to a “buy” rating and raised their price objective for the stock from $20.00 to $28.00 in a research note on Wednesday. Bank of America upped their target price on shares of Mattel from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Morgan Stanley raised their price target on shares of Mattel from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, DA Davidson upped their price objective on shares of Mattel from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.57.

Institutional Trading of Mattel

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its stake in shares of Mattel by 84.0% in the 3rd quarter. Franklin Resources Inc. now owns 9,352,223 shares of the company’s stock valued at $176,757,000 after purchasing an additional 4,270,162 shares during the period. Hennessy Advisors Inc. acquired a new stake in Mattel in the 4th quarter valued at $53,238,000. Point72 Asset Management L.P. grew its position in Mattel by 54.5% in the third quarter. Point72 Asset Management L.P. now owns 1,582,369 shares of the company’s stock valued at $30,144,000 after acquiring an additional 558,213 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in Mattel during the third quarter worth $8,997,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Mattel during the fourth quarter valued at $7,431,000. Institutional investors own 97.15% of the company’s stock.

Mattel Price Performance

The company’s 50 day moving average price is $18.46 and its 200 day moving average price is $18.82. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.88 and a current ratio of 2.45. The company has a market cap of $7.02 billion, a price-to-earnings ratio of 13.03, a P/E/G ratio of 0.88 and a beta of 0.76.

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.