Barclays Downgrades Mattel (NASDAQ:MAT) to Underweight

Mattel (NASDAQ:MAT) was downgraded by equities research analysts at Barclays from an “equal weight” rating to an “underweight” rating in a note issued to investors on Friday, March 9th. They currently have a $16.00 price target on the stock. Barclays’ price target indicates a potential upside of 21.49% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Mattel from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Jefferies Group set a $14.00 price target on shares of Mattel and gave the company a “hold” rating in a report on Tuesday, December 12th. Zacks Investment Research upgraded shares of Mattel from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 26th. UBS set a $18.00 price objective on shares of Mattel and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $16.00 price objective on shares of Mattel in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. Mattel presently has an average rating of “Hold” and a consensus target price of $17.67.

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NASDAQ MAT traded up $0.10 on Friday, reaching $13.17. The company had a trading volume of 3,962,521 shares, compared to its average volume of 6,416,916. Mattel has a 12 month low of $12.71 and a 12 month high of $25.97. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.55 and a current ratio of 1.92. The company has a market cap of $4,522.59, a P/E ratio of -12.19 and a beta of 1.01.

Mattel (NASDAQ:MAT) last posted its earnings results on Thursday, February 1st. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.93). The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.69 billion. Mattel had a negative return on equity of 21.37% and a negative net margin of 21.59%. The business’s quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. analysts forecast that Mattel will post -0.07 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Olstein Capital Management L.P. lifted its position in shares of Mattel by 375.4% in the 3rd quarter. Olstein Capital Management L.P. now owns 539,160 shares of the company’s stock worth $8,346,000 after purchasing an additional 425,760 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Mattel by 20.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 13,201,338 shares of the company’s stock worth $204,357,000 after purchasing an additional 2,253,399 shares during the period. Fairpointe Capital LLC lifted its position in shares of Mattel by 1.3% in the 4th quarter. Fairpointe Capital LLC now owns 10,178,283 shares of the company’s stock worth $156,542,000 after purchasing an additional 129,516 shares during the period. AE Wealth Management LLC lifted its position in shares of Mattel by 36.8% in the 3rd quarter. AE Wealth Management LLC now owns 68,209 shares of the company’s stock worth $1,056,000 after purchasing an additional 18,349 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of Mattel by 13.8% in the 4th quarter. California Public Employees Retirement System now owns 1,131,951 shares of the company’s stock worth $17,409,000 after purchasing an additional 136,876 shares during the period. 93.86% of the stock is owned by hedge funds and other institutional investors.

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About Mattel

Mattel, Inc designs, manufactures, and markets a range of toy products worldwide. The company operates in three segments: North America, International, and American Girl. It offers Mattel Girls & Boys branded products, including Barbie dolls and accessories, Monster High, DC Super Hero Girls, Enchantimals, Polly Pocket, Hot Wheels and Matchbox vehicles and play sets, CARS, DC Comics, WWE Wrestling, Minecraft, Toy Story, and games and puzzles.

Analyst Recommendations for Mattel (NASDAQ:MAT)

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