Jakks Pacific Inc. (NASDAQ:JAKK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Over the past few quarters, JAKKS Pacific’s revenue growth has been mainly supported by sales of products such as the BIG-FIGS featuring Star Wars and Batman vs. Superman, Warcraft figures, collectible figurines line Tsum Tsum, Disguise Halloween costume, and Nintendo figures and plush. The company’s international expansion efforts have also added to the results. Going forward, product launches and organic growth initiatives are likely to propel growth. Besides, associations with popular brands and licensing agreements with well-liked movie and television franchises should boost sales. Also, estimates have been mostly stable lately ahead of JAKKS Pacific’s third quarter earnings release. Meanwhile, the company has mixed record of earnings surprises in recent quarters. However, a challenging retail environment, age compression and the shift to alternative modes of entertainment like smartphones are potent threats to the top line.”
Separately, B. Riley reiterated a “neutral” rating and issued a $10.00 price target on shares of Jakks Pacific in a research report on Monday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Jakks Pacific currently has an average rating of “Buy” and a consensus price target of $11.58.
Jakks Pacific (NASDAQ:JAKK) opened at 8.65 on Monday. The company’s 50 day moving average price is $8.91 and its 200 day moving average price is $8.18. The firm has a market cap of $139.71 million, a PE ratio of 16.51 and a beta of 0.55. Jakks Pacific has a 52-week low of $6.17 and a 52-week high of $9.75.
Jakks Pacific (NASDAQ:JAKK) last released its quarterly earnings results on Wednesday, July 20th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.04. Jakks Pacific had a net margin of 2.00% and a return on equity of 10.42%. The company earned $141 million during the quarter, compared to the consensus estimate of $134.80 million. During the same period in the previous year, the business earned ($0.30) earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts predict that Jakks Pacific will post $0.79 earnings per share for the current fiscal year.
In other Jakks Pacific news, major shareholder Patrick Soon-Shiong sold 28,274 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $8.62, for a total transaction of $243,721.88. Following the completion of the transaction, the insider now directly owns 239,622 shares in the company, valued at $2,065,541.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in JAKK. Walthausen & Co. LLC purchased a new position in shares of Jakks Pacific during the second quarter valued at approximately $3,922,000. JPMorgan Chase & Co. boosted its stake in Jakks Pacific by 835,921.4% in the second quarter. JPMorgan Chase & Co. now owns 351,129 shares of the company’s stock worth $2,778,000 after buying an additional 351,087 shares during the last quarter. Franklin Resources Inc. boosted its stake in Jakks Pacific by 10.5% in the second quarter. Franklin Resources Inc. now owns 2,525,010 shares of the company’s stock worth $19,972,000 after buying an additional 240,470 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in Jakks Pacific during the second quarter worth $1,293,000. Finally, Bank of Montreal Can bought a new stake in Jakks Pacific during the second quarter worth $749,000.
Jakks Pacific Company Profile
JAKKS Pacific, Inc is a multi-line, multi-brand toy company. The Company designs, produces, markets and distributes toys and related products, pet toys, consumables and related products, electronics and related products, kids indoor and outdoor furniture, and other consumer products. The Company operates through two business segments: traditional toys and electronics, and role play, novelty and seasonal toys.
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