Downgrade Alert for Jakks Pacific (JAKK)
Jakks Pacific (NASDAQ:JAKK) was downgraded from Buy to Neutral at Hilliard Lyons today. The stock closed yesterday at $6.95 on volume of 1.6 million shares, above average daily volume of 233,000.
JAKKS Pacific, Inc. and its affiliates develop, manufacture, and market toys and related products for children. The Company's products include action figures, die-cast collectible and toy vehicles, preschool toys, and a line of fashion dolls and accessories. JAKKS markets its products under brand names such as Road Champs, Remco, and Child Guidance.
Jakks Pacific has overhead space with shares priced $6.95, or 41.3% below the average consensus analyst price target of $11.83. The stock should find initial resistance at its 50-day moving average (MA) of $7.37 and further resistance at its 200-day MA of $8.10.
Jakks Pacific share prices have moved between a 52-week high of $10.28 and a 52-week low of $6.11 and closed yesterday at 14% above that low price at $6.95 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.5%.
SmarTrend recommended that its subscribers protect gains by selling shares of Jakks Pacific on October 5th, 2016 by issuing a Downtrend alert when the shares were trading at $8.45. Since that call, shares of Jakks Pacific have fallen 3.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades jakks pacific