Toy maker Hasbro's (HAS - Get Report) stock gained 15% following the release of fourth-quarter earnings on Monday.

Investors who kept the faith in the company despite weak numbers from rival Mattel were rewarded with healthy profits.

But now that Hasbro's shares are trading at all-time highs, there is little chance for more gains in the near future. It is best to take profits and wait for a pullback.

Hasbro's girls' toys are showing some magic.

Led by the Disney Princess and Frozen franchises, sales surged 52% during the quarter. Mattel used to own the Disney Princess line of toys, but Disney moved the deal to Hasbro in 2014.

The collaboration is paying off for Hasbro. Overall, the company's revenue rose 12% in the fourth quarter, excluding the impact of currency exchange rates.

However, while the games and girls' categories showed significant improvement during the quarter, sales in the boys' and preschooler categories decreased.

It is interesting to see how a toy maker with a history of big hits with boys is scoring big with its line of girls' toys. Hasbro's ties with popular movies and television shows are helping it outperform the market, while Mattel is struggling.

Hasbro ended last year with the highest earnings and revenue in its history.

However, Hasbro's stock seems fairly valued now.

It trades at 20 times its share price to forward earnings. By comparison, Mattel trades at 18 times forward earnings.

There is a lot of buzz over Disney's upcoming Beauty and the Beast movie, for which Hasbro has made the dolls. But analysts don't expect 2017 to be a year of significant growth in terms of earnings or revenue for Hasbro.

The nine analysts offering 12-month price forecasts for Hasbro have a median 12-month price target of $86 a share. This means that the stock price is already trading at a 10% premium to the median price.

The most bullish analyst price estimate of $98 a share is less than $4 away.

Although no one can deny that Hasbro has performed well compared with Mattel, Hasbro's valuation simply doesn't leave any room for significant upside.

Unless the company delivers something really special or announces a new strategy to drive demand, investors should let the frenzy around Hasbro's stock calm down after the post-earnings buzz and buy the stock at a cheaper price.

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The author is an independent contributor who at the time of publication owned none of the stocks mentioned.