JAKKS Pacific, Inc. (NASDAQ:JAKK) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday, August 8th.
According to Zacks, “JAKKS Pacific’s second-quarter loss of $0.66 per share was much wider compared with the prior-year quarter loss of $0.27 and the Zacks Consensus Estimate of a loss of $0.24. Revenues fell 15.2% year over year to $119.6 million and lagged the consensus mark by over 9%. Notably, its earnings have been under pressure, incurring losses in eight of the 10 trailing quarters. Moreover, a challenging retail environment, adverse forex translations, age compression and the shift to alternative modes of entertainment remain threats to the top line. Even so, the company expects to gain momentum in the second half, given improved sales performance and better cost management. Also, product launches, organic growth initiatives, collaborations with popular brands and licensing agreements with famed franchises should boost sales. Yet, rising costs could weigh on margins. Shares of the company have also underperformed the industry year to date.”
Several other equities analysts have also recently commented on JAKK. BMO Capital Markets reaffirmed a “hold” rating and set a $6.00 price target on shares of JAKKS Pacific in a research report on Thursday, July 13th. Stifel Nicolaus reaffirmed a “hold” rating and set a $5.50 price target on shares of JAKKS Pacific in a research report on Monday, July 10th. Jefferies Group LLC assumed coverage on shares of JAKKS Pacific in a research report on Thursday, June 8th. They set a “hold” rating and a $4.50 price target on the stock. DA Davidson reaffirmed a “neutral” rating and set a $3.75 price target (down previously from $5.00) on shares of JAKKS Pacific in a research report on Saturday, July 22nd. Finally, TheStreet cut shares of JAKKS Pacific from a “c-” rating to a “d+” rating in a research report on Tuesday, July 25th. Eight analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average target price of $5.46.
JAKKS Pacific (NASDAQ:JAKK) traded up 2.94% during mid-day trading on Tuesday, hitting $3.50. The stock had a trading volume of 54,380 shares. The company has a 50-day moving average of $3.60 and a 200-day moving average of $4.56. The firm’s market cap is $79.70 million. JAKKS Pacific has a 12-month low of $3.05 and a 12-month high of $9.75.
JAKKS Pacific (NASDAQ:JAKK) last announced its earnings results on Tuesday, July 25th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.21) by $0.45. The business had revenue of $119.57 million for the quarter, compared to analyst estimates of $134.02 million. JAKKS Pacific had a negative net margin of 1.76% and a negative return on equity of 7.07%. The firm’s revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.27) earnings per share. Analysts expect that JAKKS Pacific will post $0.17 earnings per share for the current year.
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In other JAKKS Pacific news, CEO Stephen G. Berman bought 10,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were purchased at an average price of $3.40 per share, with a total value of $34,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Hancock Holding Co. boosted its stake in JAKKS Pacific by 62.7% in the first quarter. Hancock Holding Co. now owns 31,345 shares of the company’s stock worth $172,000 after buying an additional 12,085 shares during the period. Russell Investments Group Ltd. acquired a new stake in JAKKS Pacific during the fourth quarter worth $177,000. Lazard Asset Management LLC acquired a new stake in JAKKS Pacific during the first quarter worth $271,000. State Street Corp boosted its stake in JAKKS Pacific by 2.4% in the fourth quarter. State Street Corp now owns 287,571 shares of the company’s stock worth $1,480,000 after buying an additional 6,662 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in JAKKS Pacific by 38.9% in the first quarter. JPMorgan Chase & Co. now owns 1,603,398 shares of the company’s stock worth $8,820,000 after buying an additional 448,687 shares during the period. 66.05% of the stock is currently owned by institutional investors.
About JAKKS Pacific
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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