Spin Master (TSE:TOY) Given New C$24.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reduced Spin Master’s price target from C$26.00 to C$24.00, maintaining a "hold" rating on the stock.
• Spin Master shares experienced a 2.0% decrease during trading, falling to C$22.35, while having a market cap of C$1.64 billion.
• The consensus rating for Spin Master is a "Moderate Buy" with a target price of C$30.63, with varying ratings from analysts, including four buy, four hold, and one strong buy.

Spin Master (TSE:TOY - Free Report) had its price objective decreased by Canaccord Genuity Group from C$26.00 to C$24.00 in a research note issued to investors on Friday morning,BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the stock.

A number of other brokerages have also recently weighed in on TOY. CIBC set a C$28.00 price target on shares of Spin Master and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. National Bank Financial raised shares of Spin Master from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 7th. National Bankshares upgraded shares of Spin Master from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from C$26.00 to C$29.00 in a research note on Thursday, May 8th. Cibc World Mkts upgraded shares of Spin Master to a "hold" rating in a research note on Tuesday, June 3rd. Finally, Royal Bank Of Canada dropped their price objective on shares of Spin Master from C$32.00 to C$31.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$30.63.

Spin Master Trading Down 3.1%

TOY stock traded down C$0.70 during midday trading on Friday, reaching C$22.10. 520,051 shares of the company's stock traded hands, compared to its average volume of 139,022. The company has a market capitalization of C$1.62 billion, a P/E ratio of 52.30, a PEG ratio of 0.57 and a beta of 1.86. The company has a debt-to-equity ratio of 39.61, a current ratio of 1.14 and a quick ratio of 2.06. Spin Master has a fifty-two week low of C$20.30 and a fifty-two week high of C$35.44. The business has a 50-day moving average price of C$24.17 and a two-hundred day moving average price of C$25.65.

Spin Master Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, July 11th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, June 27th. Spin Master's payout ratio is 113.60%.

About Spin Master

Spin Master Corp., a children's entertainment company, engages in the creation, design, manufacture, licensing, and marketing of various toys, entertainment products, and digital games in North America, Europe, and internationally. The Toys segment's product categories include activities, games and puzzles, and plush; wheels and action; outdoor; and preschool, dolls, and interactive products.