Citigroup Raises Mattel (NASDAQ:MAT) Price Target to $22.00

Mattel (NASDAQ:MAT) had its target price hoisted by equities research analysts at Citigroup from $19.00 to $22.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 30.84% from the company’s previous close.

Several other brokerages also recently issued reports on MAT. DA Davidson upgraded Mattel to a “strong-buy” rating in a report on Monday, April 14th. Morgan Stanley upped their target price on shares of Mattel from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Tuesday. StockNews.com raised shares of Mattel from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Jefferies Financial Group raised shares of Mattel from a “hold” rating to a “buy” rating and upped their price objective for the stock from $20.00 to $28.00 in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

Mattel Stock Up 3.8 %

Shares of MAT traded up $0.62 during trading hours on Tuesday, hitting $16.82. The stock had a trading volume of 3,547,052 shares, compared to its average volume of 3,620,820. The firm has a 50 day simple moving average of $17.82 and a 200-day simple moving average of $18.68. Mattel has a 1-year low of $13.95 and a 1-year high of $22.07. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.38 and a quick ratio of 2.00. The firm has a market capitalization of $5.43 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 2.35 and a beta of 0.61.

Mattel (NASDAQ:MAT) last posted its earnings results on Monday, May 5th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.08. Mattel had a net margin of 10.07% and a return on equity of 25.94%. The company had revenue of $826.60 million during the quarter, compared to the consensus estimate of $791.49 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts predict that Mattel will post 1.7 EPS for the current fiscal year.

Institutional Trading of Mattel

A number of large investors have recently bought and sold shares of the company. EdgePoint Investment Group Inc. raised its stake in Mattel by 14.9% in the 4th quarter. EdgePoint Investment Group Inc. now owns 46,174,919 shares of the company’s stock valued at $818,681,000 after acquiring an additional 5,984,400 shares during the period. Norges Bank purchased a new position in shares of Mattel in the fourth quarter worth about $54,929,000. Hennessy Advisors Inc. bought a new stake in shares of Mattel in the fourth quarter valued at approximately $53,238,000. Invesco Ltd. lifted its stake in shares of Mattel by 468.3% during the 4th quarter. Invesco Ltd. now owns 3,394,958 shares of the company’s stock valued at $60,193,000 after buying an additional 2,797,559 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new position in Mattel in the 4th quarter worth approximately $39,066,000. 97.15% of the stock is owned by hedge funds and other institutional investors.

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.