Spin Master (TSE:TOY) Price Target Cut to C$20.00 by Analysts at Canaccord Genuity Group

Key Points

• Research analysts at Canaccord Genuity Group have reduced Spin Master's price target from C$24.00 to C$20.00, suggesting a potential downside of 0.55% from the stock's previous close.
• This price cut follows several other downgrades, with Stifel lowering its rating from "strong-buy" to "hold" on August 1st.
• The stock is currently trading at about C$20.11, with an average rating of "Moderate Buy" and an overall average price target of C$29.00.

Spin Master (TSE:TOY - Get Free Report) had its price objective reduced by research analysts at Canaccord Genuity Group from C$24.00 to C$20.00 in a research note issued on Wednesday,BayStreet.CA reports. Canaccord Genuity Group's price objective indicates a potential downside of 0.55% from the stock's previous close.

A number of other equities analysts also recently weighed in on TOY. Stifel Canada downgraded shares of Spin Master from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. CIBC dropped their price target on shares of Spin Master from C$26.00 to C$23.00 in a research note on Tuesday, September 30th. TD Securities dropped their price target on shares of Spin Master from C$31.00 to C$29.00 and set a "buy" rating on the stock in a research note on Wednesday, October 8th. National Bankshares dropped their price target on shares of Spin Master from C$29.00 to C$27.00 and set an "outperform" rating on the stock in a research note on Friday, September 26th. Finally, Stifel Nicolaus downgraded shares of Spin Master from a "buy" rating to a "hold" rating and dropped their price target for the stock from C$33.00 to C$25.00 in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$29.00.

Spin Master Stock Up 0.2%

Shares of TOY traded up C$0.04 during mid-day trading on Wednesday, reaching C$20.11. The company's stock had a trading volume of 83,333 shares, compared to its average volume of 140,503. The business has a fifty day moving average of C$21.33 and a 200 day moving average of C$22.91. The company has a market cap of C$2.04 billion, a price-to-earnings ratio of 24.23, a price-to-earnings-growth ratio of 0.57 and a beta of 0.47. Spin Master has a 1 year low of C$18.51 and a 1 year high of C$35.44. The company has a quick ratio of 2.06, a current ratio of 1.14 and a debt-to-equity ratio of 39.61.

About Spin Master

Spin Master is a children's entertainment company operating in the roughly $100 billion global toy industry. The company creates, designs, manufactures, and markets a portfolio of products, brands, and entertainment properties across four key categories (outdoor, boys, preschool and girls, and activities games and puzzles and plush).

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