JAKKS Pacific (NASDAQ:JAKK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
According to Zacks, “JAKKS Pacific’s shares have underperformed the industry in the last one year. The company’s revenues are likely to be pressurized by various factors in general. Meanwhile, the company’s earnings have also been under pressure, incurring losses in eight of the 11 trailing quarters. A challenging retail environment, rising costs, adverse forex translations, age compression and the shift to alternative modes of entertainment remain threats to the top line. Further, the company had to reduce its full year guidance due to a bankruptcy filing by its significant partner and retailer, Toys ‘R’ Us. JAKKS Pacific now expects to incur a net loss and record negative earnings per share for the full year.”
A number of other research analysts also recently issued reports on the company. BMO Capital Markets restated a “hold” rating and set a $3.50 price target on shares of JAKKS Pacific in a research note on Monday, November 27th. DA Davidson upgraded JAKKS Pacific from an “underperform” rating to a “neutral” rating in a research note on Monday, October 30th. They noted that the move was a valuation call. Stifel Nicolaus dropped their price target on JAKKS Pacific from $4.50 to $3.30 and set a “hold” rating on the stock in a research note on Monday, October 30th. Finally, Jefferies Group restated a “hold” rating and set a $3.50 price target (down previously from $4.50) on shares of JAKKS Pacific in a research note on Saturday, September 30th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $3.51.
JAKKS Pacific (NASDAQ:JAKK) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.32). The firm had revenue of $262.40 million for the quarter, compared to analysts’ expectations of $294.59 million. JAKKS Pacific had a negative return on equity of 15.58% and a negative net margin of 9.36%. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 EPS. equities research analysts predict that JAKKS Pacific will post -0.04 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the business. Daiwa Securities Group Inc. lifted its position in JAKKS Pacific by 59.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 895,619 shares of the company’s stock worth $2,703,000 after acquiring an additional 333,070 shares during the period. Walthausen & Co. LLC lifted its position in JAKKS Pacific by 668.6% during the 3rd quarter. Walthausen & Co. LLC now owns 774,300 shares of the company’s stock worth $2,323,000 after acquiring an additional 673,560 shares during the period. California Public Employees Retirement System lifted its position in JAKKS Pacific by 0.6% during the 2nd quarter. California Public Employees Retirement System now owns 218,868 shares of the company’s stock worth $875,000 after acquiring an additional 1,400 shares during the period. Goldman Sachs Group Inc. lifted its position in JAKKS Pacific by 273.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 91,550 shares of the company’s stock worth $366,000 after acquiring an additional 67,020 shares during the period. Finally, Wells Fargo & Company MN lifted its position in JAKKS Pacific by 20,020.5% during the 3rd quarter. Wells Fargo & Company MN now owns 51,911 shares of the company’s stock worth $155,000 after acquiring an additional 51,653 shares during the period. 56.78% of the stock is 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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