Wells Fargo & Company Initiates Coverage on Mattel (NASDAQ:MAT)

Research analysts at Wells Fargo & Company assumed coverage on shares of Mattel (NASDAQ:MAT) in a research report issued on Wednesday. The brokerage set an “overweight” rating and a $19.00 price target on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 18.45% from the company’s current price.

A number of other research firms also recently weighed in on MAT. Morgan Stanley set a $18.00 target price on Mattel in a research report on Wednesday, February 11th. UBS Group reissued a “buy” rating and issued a $28.00 price objective on shares of Mattel in a research note on Thursday, March 5th. Roth Mkm set a $16.00 price objective on Mattel in a report on Wednesday, February 11th. Citigroup cut Mattel from a “buy” rating to a “neutral” rating and decreased their target price for the company from $25.00 to $16.00 in a research note on Wednesday, February 11th. Finally, Zacks Research raised Mattel from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.44.

Mattel Stock Up 0.2%

Mattel stock opened at $16.04 on Wednesday. Mattel has a 52 week low of $13.94 and a 52 week high of $22.48. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 12.73 and a beta of 0.72. The company’s 50-day moving average price is $19.23 and its two-hundred day moving average price is $19.01. The company has a current ratio of 2.15, a quick ratio of 1.76 and a debt-to-equity ratio of 1.04.

Mattel (NASDAQ:MAT) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.14). The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.85 billion. Mattel had a return on equity of 20.72% and a net margin of 7.44%.The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. Mattel has set its FY 2026 guidance at 1.180-1.300 EPS. On average, analysts expect that Mattel will post 1.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Mattel

Several hedge funds have recently modified their holdings of MAT. JPMorgan Chase & Co. lifted its stake in Mattel by 21.2% during the third quarter. JPMorgan Chase & Co. now owns 1,393,829 shares of the company’s stock valued at $23,458,000 after buying an additional 244,030 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Mattel by 20.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 445,826 shares of the company’s stock worth $7,503,000 after acquiring an additional 75,124 shares during the period. Norges Bank purchased a new position in Mattel during the 2nd quarter valued at about $55,651,000. Great Lakes Advisors LLC grew its stake in Mattel by 37.1% during the 3rd quarter. Great Lakes Advisors LLC now owns 318,769 shares of the company’s stock valued at $5,365,000 after acquiring an additional 86,207 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Mattel in the 2nd quarter valued at about $726,000. 97.15% of the stock is owned by hedge funds and other institutional investors.

Mattel Company Profile

Mattel, Inc is a leading global toy company headquartered in El Segundo, California. Founded in 1945 by Harold “Matt” Matson and Elliot and Ruth Handler, the company has grown into a major player in the toy and family products industry. Mattel designs, manufactures, and markets a broad range of toys, games and entertainment products under well-known brands, including Barbie, Hot Wheels, Fisher-Price, American Girl, Thomas & Friends, UNO and Matchbox. In addition to its proprietary labels, Mattel holds licenses with global entertainment franchises, partnering with Disney, Warner Bros., WWE and other studios to create character-driven play experiences.