Hasbro (NASDAQ:HAS) Rating Increased to Buy at Bank of America

Hasbro (NASDAQ:HAS) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Friday, Marketbeat reports. The firm currently has a $80.00 target price on the stock, up from their previous target price of $70.00. Bank of America‘s price target suggests a potential upside of 30.08% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Monness Crespi & Hardt increased their price target on Hasbro from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Roth Mkm increased their price target on Hasbro from $65.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. upgraded Hasbro from a “neutral” rating to an “overweight” rating and increased their price target for the company from $61.00 to $74.00 in a report on Thursday, May 23rd. Stifel Nicolaus increased their price target on Hasbro from $64.00 to $67.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, StockNews.com upgraded Hasbro from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Hasbro Trading Up 6.0 %

HAS stock opened at $61.50 on Friday. The company has a market cap of $8.56 billion, a price-to-earnings ratio of -6.07, a PEG ratio of 0.93 and a beta of 0.65. The company has a quick ratio of 0.93, a current ratio of 1.11 and a debt-to-equity ratio of 2.88. The business has a fifty day simple moving average of $59.58 and a 200-day simple moving average of $53.94. Hasbro has a 52 week low of $42.66 and a 52 week high of $73.57.

Hasbro (NASDAQ:HAS) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.34. The business had revenue of $757.30 million during the quarter, compared to the consensus estimate of $739.84 million. Hasbro had a positive return on equity of 25.41% and a negative net margin of 29.60%. The business’s revenue for the quarter was down 24.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 EPS. On average, equities research analysts expect that Hasbro will post 3.66 EPS for the current year.

Insider Transactions at Hasbro

In other news, EVP Tarrant L. Sibley sold 13,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $60.26, for a total transaction of $783,380.00. Following the transaction, the executive vice president now owns 53,003 shares of the company’s stock, valued at $3,193,960.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Hasbro

Institutional investors and hedge funds have recently bought and sold shares of the business. UBS Group AG raised its stake in Hasbro by 43.1% during the fourth quarter. UBS Group AG now owns 329,666 shares of the company’s stock worth $16,833,000 after acquiring an additional 99,263 shares during the period. CWM LLC raised its stake in Hasbro by 37.1% during the fourth quarter. CWM LLC now owns 1,910 shares of the company’s stock worth $97,000 after acquiring an additional 517 shares during the period. Norges Bank acquired a new stake in Hasbro during the fourth quarter worth about $70,544,000. Kovitz Investment Group Partners LLC raised its stake in Hasbro by 1.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,326,984 shares of the company’s stock worth $67,756,000 after acquiring an additional 22,688 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in shares of Hasbro in the third quarter valued at approximately $1,250,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

About Hasbro

Hasbro, Inc, together with its subsidiaries, operates as a toy and game company in the United States, Europe, Canada, Mexico, Latin America, Australia, China, and Hong Kong. The company operates through Consumer Products; Wizards of the Coast and Digital Gaming; Entertainment; and Corporate and Other segments.