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

Bank of America upgraded shares of Hasbro (NASDAQ:HAS) from a neutral rating to a buy rating in a report issued on Friday morning, Marketbeat Ratings reports. The brokerage currently has $80.00 target price on the stock, up from their previous target price of $70.00.

Other analysts have also recently issued research reports about the company. DA Davidson increased their price objective on Hasbro from $52.00 to $59.00 and gave the stock a neutral rating in a report on Monday, April 29th. JPMorgan Chase & Co. raised Hasbro from a neutral rating to an overweight rating and increased their price objective for the stock from $61.00 to $74.00 in a report on Thursday, May 23rd. Roth Mkm increased their price objective on Hasbro from $65.00 to $75.00 and gave the stock a buy rating in a report on Thursday, April 25th. Jefferies Financial Group upped their target price on Hasbro from $61.00 to $63.00 and gave the stock a buy rating in a research note on Friday, April 19th. Finally, UBS Group upped their target price on Hasbro from $68.00 to $69.00 and gave the stock a buy rating in a research note on Friday, May 24th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $69.00.

Hasbro Stock Up 0.1 %

Shares of NASDAQ HAS opened at $61.58 on Friday. Hasbro has a one year low of $42.66 and a one year high of $73.57. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.11 and a quick ratio of 0.93. The business’s fifty day moving average price is $59.66 and its 200-day moving average price is $54.10. The stock has a market capitalization of $8.57 billion, a PE ratio of -6.07, a P/E/G ratio of 0.98 and a beta of 0.65.

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

Insiders Place Their Bets

In other Hasbro news, EVP Tarrant L. Sibley sold 13,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $60.26, for a total value of $783,380.00. Following the completion of the sale, the executive vice president now owns 53,003 shares in the company, valued at approximately $3,193,960.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HAS. Lindbrook Capital LLC raised its stake in Hasbro by 56.2% during the first quarter. Lindbrook Capital LLC now owns 464 shares of the company’s stock valued at $26,000 after buying an additional 167 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in Hasbro by 5.0% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,509 shares of the company’s stock valued at $230,000 after buying an additional 215 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in Hasbro by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 59,042 shares of the company’s stock valued at $3,905,000 after buying an additional 220 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in Hasbro by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 26,957 shares of the company’s stock valued at $1,524,000 after buying an additional 299 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in Hasbro by 0.8% during the fourth quarter. Arizona State Retirement System now owns 36,225 shares of the company’s stock valued at $1,850,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors 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.