Economy

Toronto toy company Spin Master acquires flying ring maker Aerobie

Shares of Spin Master Corp (TSE TOY) opened at 38.22 on Tuesday. Spin Master Corp has a 12-month low of $25.98 and a 12-month high of $43.06. 6,267 shares of the company traded hands. It has underperformed by 16.70% the S&P500. Said the Spin Master representative, "Aeropress is not included in the acquisition". Therefore 100% are positive. The legal version of this article can be viewed at https://www.themarketsdaily.com/2017/08/01/research-analysts-issue-forecasts-for-spin-master-corps-q2-2017-earnings-tsetoy.html. Canaccord Genuity maintained it with "Buy" rating and $37 target in Tuesday, January 10 report. Raymond James Financial, Inc. reaffirmed an "outperform" rating and set a C$48.00 price objective on shares of Spin Master Corp in a research note on Wednesday, May 10th. Royal Bank Of Canada decreased their price objective on shares of Spin Master Corp from C$47.00 to C$45.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 25th. Finally, BMO Capital Markets decreased their price objective on shares of Spin Master Corp from C$38.00 to C$36.00 in a research note on Thursday, April 13th. The firm earned "Outperform" rating on Friday, June 17 by RBC Capital Markets. TD Securities reissued a "buy" rating and set a C$43.00 price target on shares of Spin Master Corp in a research note on Wednesday, April 26th. The firm has a market cap of $3.86 billion and a PE ratio of 38.62.

Since Spin Master's IPO in 2015, Spin Master has acquired seven companies including Aerobie and the recently announced Marbles acquisition, in an ongoing effort to continue to grow the company through strategic acquisitions.

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Aerobie, who specialises in manufacturing outdoor flying disks and sports toys, will now be part of Spin Master's outdoor toy portfolio. The Company's divisions include North America, consisting of the United States and Canada; Europe, consisting of Spin Master's subsidiaries in the United Kingdom, France, Italy, the Netherlands, Germany, Austria and Switzerland, and the Rest of World, consisting of Spin Master's subsidiary in Mexico and all other areas of the world serviced by Spin Master's third-party distribution network.



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