Funko (NASDAQ:FNKO) Lifted to Strong-Buy at Zacks Investment Research

Funko (NASDAQ:FNKO) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday, Zacks.com reports. The firm presently has a $27.00 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 22.67% from the company’s previous close.

According to Zacks, “Funko, Inc. is a pop culture consumer products company. It offers figures, plush, apparel, toys, vinyl, bags, wallets, homewares and accessories under Mystery Minis, Dorbz., Pint Size Heroes., Rock Candy., Galactic or Hero Plushies., SuperCute., MyMoji. and Loungefly brands. The company sells its products through specialty retailers, mass-market retailers and e-commerce sites. Funko, Inc. is headquartered in Everett, Washington. “

Several other research firms also recently weighed in on FNKO. ValuEngine downgraded Funko from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Bank of America lifted their target price on Funko from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Friday, August 9th. DA Davidson lifted their target price on Funko from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Stifel Nicolaus lifted their target price on Funko from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, BMO Capital Markets lifted their target price on Funko from $21.00 to $22.00 and gave the company a “market perform” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $27.78.

FNKO traded down $1.35 on Thursday, hitting $22.01. The company had a trading volume of 719,382 shares, compared to its average volume of 669,938. The firm has a market cap of $1.15 billion, a P/E ratio of 32.37, a PEG ratio of 1.32 and a beta of 2.09. Funko has a 1 year low of $11.22 and a 1 year high of $31.12. The company’s fifty day moving average price is $23.09 and its 200 day moving average price is $21.16. The company has a current ratio of 1.94, a quick ratio of 1.31 and a debt-to-equity ratio of 0.72.

Funko (NASDAQ:FNKO) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.15. The firm had revenue of $191.20 million for the quarter, compared to analyst estimates of $170.69 million. Funko had a net margin of 2.00% and a return on equity of 17.28%. Funko’s revenue was up 37.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 EPS. On average, analysts predict that Funko will post 1.02 earnings per share for the current year.

In other news, major shareholder Fundamental Capital Partners, sold 141,132 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $25.19, for a total transaction of $3,555,115.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Russell Eugene Nickel sold 6,850 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $22.51, for a total value of $154,193.50. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 476,418 shares of company stock valued at $9,723,183 and sold 1,684,516 shares valued at $40,222,458. Insiders own 16.26% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. NumerixS Investment Technologies Inc acquired a new position in shares of Funko during the second quarter worth about $31,000. Freestone Capital Holdings LLC acquired a new position in shares of Funko during the second quarter worth about $7,293,000. Bank of Montreal Can grew its position in shares of Funko by 7,766.7% during the second quarter. Bank of Montreal Can now owns 1,416 shares of the company’s stock worth $34,000 after buying an additional 1,398 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Funko by 58,400.0% during the first quarter. BNP Paribas Arbitrage SA now owns 2,340 shares of the company’s stock worth $51,000 after buying an additional 2,336 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY acquired a new position in shares of Funko during the first quarter worth about $85,000. 46.64% of the stock is owned by institutional investors and hedge funds.

About Funko

Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, China, Vietnam, and the United Kingdom. The company offers vinyl, blind-packed miniature, and action figures; and plush products, accessories, apparels, and homewares, as well as bags, purses, and wallets.

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