AAL

Mattel Stock Eyes 5-Year Highs After Earnings Beat

Mattel also issued a better-than-expected full-year forecast

Digital Content Manager
Feb 10, 2022 at 9:29 AM
facebook X logo linkedin


The shares of Mattel Inc (NASDAQ:MAT) are up 8.1% at $24.60 this morning, after the toymaker reported fourth-quarter earnings of 53 cents per share on $1.79 in revenue, handily topping analysts' estimates. The company cited strengthening demand for its Barbie brand and issued an upbeat full-year forecast to boot. 

Several members of the brokerage bunch are taking notice. No less than six analysts lifted their price targets, the highest coming from J.P. Morgan Securities to $33. This puts the 12-month consensus price target at $29.29, which is a 19.1% premium to last night's close. Meanwhile, eight of the 10 analysts covering the stock call it a "strong buy."

The stock has seen a pretty impressive rebound off its 320-day moving average this month, already up nearly 9% in February heading into today. What's more, MAT is set to open at its highest level since 2017, and log its fourth-straight pop, should today's gains hold. 

Short sellers were piling on MAT ahead of today's report. Short interest rose 12% during the last two reporting periods, and now makes up 6.6% of the stock's available float. It  would take nearly eight days to buy back these bearish bets, at the stock's average daily pace of trading. Should today's surge have some of these shorts jumping ship, it could put even more wind at the equity's back. 

 

Same-Day Trading Power: +227% YTD and Counting  — Get in for $10!

We're celebrating 44 years of helping traders win, and you can now tap into one of our most explosive services — Dynamite Day Trading Signals — for just $10.

This service was built for one thing: capturing intraday gains with precision. 

Access two highly-vetted options trades each week -  Complete with defined entries, exits, and a clear plan for same-day profits.

👉 Click Here to Learn More and Position Yourself to Take Action When the Next Alert Hits.