Mattel (MAT) Cut to “Sell” at BidaskClub

BidaskClub downgraded shares of Mattel (NASDAQ:MAT) from a hold rating to a sell rating in a research report report published on Friday.

MAT has been the topic of several other reports. Citigroup decreased their price objective on shares of Mattel from $21.00 to $19.00 and set a buy rating on the stock in a report on Wednesday, August 8th. ValuEngine upgraded shares of Mattel from a hold rating to a buy rating in a report on Thursday, August 2nd. Zacks Investment Research lowered shares of Mattel from a hold rating to a sell rating in a report on Wednesday, June 27th. Jefferies Financial Group set a $14.00 price objective on shares of Mattel and gave the stock a hold rating in a report on Wednesday, August 1st. Finally, UBS Group decreased their price objective on shares of Mattel from $18.00 to $16.00 and set a hold rating on the stock in a report on Thursday, August 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $17.00.

NASDAQ:MAT opened at $14.52 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.22 and a debt-to-equity ratio of 4.29. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of -13.44 and a beta of 1.06. Mattel has a 1-year low of $12.21 and a 1-year high of $19.21.

Mattel (NASDAQ:MAT) last issued its quarterly earnings data on Wednesday, July 25th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.24). Mattel had a negative return on equity of 56.60% and a negative net margin of 30.43%. The company had revenue of $840.70 million during the quarter, compared to analyst estimates of $862.48 million. During the same quarter in the prior year, the company posted ($0.14) earnings per share. The business’s revenue was down 13.7% compared to the same quarter last year. Equities analysts expect that Mattel will post -0.95 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in MAT. New York State Common Retirement Fund increased its stake in Mattel by 28.5% during the 1st quarter. New York State Common Retirement Fund now owns 1,592,400 shares of the company’s stock worth $20,940,000 after buying an additional 353,000 shares during the period. California Public Employees Retirement System increased its stake in Mattel by 18.4% during the 1st quarter. California Public Employees Retirement System now owns 1,340,516 shares of the company’s stock worth $17,628,000 after buying an additional 208,565 shares during the period. Dimensional Fund Advisors LP increased its stake in Mattel by 7.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,612,258 shares of the company’s stock worth $21,200,000 after buying an additional 115,267 shares during the period. Russell Investments Group Ltd. increased its stake in Mattel by 48.1% during the 1st quarter. Russell Investments Group Ltd. now owns 69,875 shares of the company’s stock worth $918,000 after buying an additional 22,693 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in Mattel during the 1st quarter worth approximately $593,000.

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.

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Analyst Recommendations for Mattel (NASDAQ:MAT)

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