Funko (NASDAQ:FNKO) Upgraded to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Funko (NASDAQ:FNKO) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday, Zacks.com reports. They currently have $27.00 price target on the stock.

According to Zacks, “Funko, Inc. is a pop culture consumer products company. It offers figures, plush, apparel, toys, vinyl, bags, wallets, homewares and accessories under Mystery Minis, Dorbz., Pint Size Heroes., Rock Candy., Galactic or Hero Plushies., SuperCute., MyMoji. and Loungefly brands. The company sells its products through specialty retailers, mass-market retailers and e-commerce sites. Funko, Inc. is headquartered in Everett, Washington. “

A number of other analysts have also recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Funko from $28.00 to $30.00 and gave the company a buy rating in a report on Friday, August 9th. BMO Capital Markets boosted their target price on shares of Funko from $21.00 to $22.00 and gave the company a market perform rating in a report on Monday, August 12th. ValuEngine lowered Funko from a hold rating to a sell rating in a research report on Thursday, August 1st. Bank of America lifted their price target on Funko from $27.00 to $29.00 and gave the stock a buy rating in a research report on Friday, August 9th. Finally, DA Davidson lifted their price target on Funko from $29.00 to $32.00 and gave the stock a buy rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $27.78.

NASDAQ:FNKO opened at $22.22 on Thursday. The stock has a market cap of $1.08 billion, a P/E ratio of 21.79, a price-to-earnings-growth ratio of 1.11 and a beta of 2.09. The firm’s fifty day simple moving average is $23.04 and its 200 day simple moving average is $21.16. Funko has a twelve month low of $11.22 and a twelve month high of $31.12. The company has a quick ratio of 1.31, a current ratio of 1.89 and a debt-to-equity ratio of 0.85.

Funko (NASDAQ:FNKO) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.15. The business had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $170.69 million. Funko had a net margin of 2.00% and a return on equity of 17.18%. The firm’s revenue for the quarter was up 37.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 earnings per share. On average, analysts expect that Funko will post 1.05 EPS for the current fiscal year.

In other Funko news, President Andrew Mark Perlmutter sold 55,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $23.01, for a total value of $1,265,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Fifth Street Station Llc bought 245,224 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was acquired at an average cost of $19.99 per share, with a total value of $4,902,027.76. The disclosure for this purchase can be found here. In the last three months, insiders acquired 476,418 shares of company stock valued at $9,723,183 and sold 1,684,516 shares valued at $40,222,458. 16.26% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. NumerixS Investment Technologies Inc purchased a new stake in shares of Funko during the 2nd quarter valued at about $31,000. Bank of Montreal Can increased its position in shares of Funko by 7,766.7% during the 2nd quarter. Bank of Montreal Can now owns 1,416 shares of the company’s stock valued at $34,000 after purchasing an additional 1,398 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Funko by 58,400.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,340 shares of the company’s stock valued at $51,000 after purchasing an additional 2,336 shares during the last quarter. Royal Bank of Canada bought a new position in shares of Funko during the 2nd quarter valued at approximately $62,000. Finally, Metropolitan Life Insurance Co NY bought a new position in shares of Funko during the 1st quarter valued at approximately $85,000. 49.25% of the stock is owned by institutional investors and hedge funds.

About Funko

Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, China, Vietnam, and the United Kingdom. The company offers vinyl, blind-packed miniature, and action figures; and plush products, accessories, apparels, and homewares, as well as bags, purses, and wallets.

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