NEW YORK (TheStreet) --Shares of Mattel Inc. (MAT) are lower by 4.78% to $29.70 in early afternoon trading on Friday, as BMO Capital expresses concerns that the toy company is losing share to competitors, the Associated Press reports.
Earlier today BMO Capital issued an analyst note lowering its price target on Mattel to $28 from $30, as well as Hasbro (HAS) to $55 from $57 as the research firm believes "domestic toy industry appears to have taken a turn for the worse in the fourth quarter declining about 2% after being up nearly 4% over the first nine months."
"Furthermore, we believe Mattel has been losing share to competitors, most of them privately held, and has seen domestic retail slide by 12% so far in the quarter," BMO added.
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Separately, TheStreet Ratings team rates MATTEL INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MATTEL INC (MAT) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."