JAKKS Pacific (NASDAQ:JAKK) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded JAKKS Pacific from “strong sell” to “hold,” while the overall analyst consensus remains “Hold.”
• JAKK opened at $28.08, up 1.2%, near its 52-week high of $28.60; the company has a $321.24 million market capitalization and a P/E ratio of 29.20.
• JAKKS Pacific exceeded quarterly expectations, reporting $0.25 earnings per share versus the consensus estimate of a $0.06 loss and revenue of $139.24 million versus estimates of $123.01 million.

JAKKS Pacific (NASDAQ:JAKK - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday, Zacks reports.

A number of other brokerages have also recently weighed in on JAKK. Wall Street Zen upgraded JAKKS Pacific from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of JAKKS Pacific in a research report on Friday, September 11th. Two equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company has an average rating of "Hold".

JAKKS Pacific Stock Up 1.2%

NASDAQ:JAKK opened at $28.08 on Monday. The company has a market cap of $321.24 million, a P/E ratio of 29.20 and a beta of 1.32. JAKKS Pacific has a fifty-two week low of $14.86 and a fifty-two week high of $28.60. The firm's 50 day moving average is $25.43 and its two-hundred day moving average is $23.56.

JAKKS Pacific (NASDAQ:JAKK - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.31. JAKKS Pacific had a net margin of 2.77% and a return on equity of 4.33%. The company had revenue of $139.24 million for the quarter, compared to analyst estimates of $123.01 million. Research analysts forecast that JAKKS Pacific will post 1.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in JAKKS Pacific by 543.6% in the 1st quarter. Royal Bank of Canada now owns 2,066 shares of the company's stock valued at $41,000 after purchasing an additional 1,745 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in JAKKS Pacific by 11.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,508 shares of the company's stock valued at $249,000 after purchasing an additional 1,288 shares during the period. Rockefeller Capital Management L.P. raised its position in JAKKS Pacific by 43.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 16,500 shares of the company's stock valued at $279,000 after purchasing an additional 5,000 shares during the period. Sei Investments Co. raised its position in JAKKS Pacific by 34.4% in the first quarter. Sei Investments Co. now owns 17,960 shares of the company's stock valued at $358,000 after purchasing an additional 4,600 shares during the period. Finally, Quantinno Capital Management LP raised its position in JAKKS Pacific by 63.4% in the first quarter. Quantinno Capital Management LP now owns 20,317 shares of the company's stock valued at $405,000 after purchasing an additional 7,885 shares during the period. 44.38% of the stock is owned by institutional investors and hedge funds.

About JAKKS Pacific

JAKKS Pacific, Inc is a toy and consumer products company that develops, manufactures and markets toys, games and related products for children and families. Its portfolio includes action figures, dolls, vehicles, playsets, role-play and dress-up products, plush toys, preschool items, games, and seasonal and outdoor products.

The company sells products under its own brands and through licensing and entertainment partnerships. Its offerings have included products based on well-known movie, television, video game and character properties, as well as proprietary brands such as Maui and Airwalk.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.