Bank of America Increases Hasbro (NASDAQ:HAS) Price Target to $60.00

Hasbro (NASDAQ:HAS) had its target price lifted by investment analysts at Bank of America from $51.00 to $60.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price target indicates a potential upside of 8.56% from the stock’s current price.

Other analysts also recently issued reports about the company. TheStreet downgraded Hasbro from a “c-” rating to a “d+” rating in a report on Tuesday, February 13th. Stifel Nicolaus boosted their target price on Hasbro from $64.00 to $67.00 and gave the company a “buy” rating in a report on Monday, April 15th. DA Davidson restated a “neutral” rating and issued a $52.00 price target on shares of Hasbro in a research report on Tuesday, March 26th. StockNews.com upgraded Hasbro from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Finally, Jefferies Financial Group boosted their price target on Hasbro from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $62.80.

Hasbro Stock Up 0.6 %

Shares of NASDAQ HAS opened at $55.27 on Thursday. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of -5.16, a price-to-earnings-growth ratio of 1.45 and a beta of 0.74. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.13 and a quick ratio of 0.97. The business has a 50-day moving average of $53.39 and a two-hundred day moving average of $51.14. Hasbro has a 1 year low of $42.66 and a 1 year high of $73.57.

Hasbro (NASDAQ:HAS) last posted its earnings results on Tuesday, February 13th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.26). Hasbro had a negative net margin of 29.77% and a positive return on equity of 16.34%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the firm posted $1.31 earnings per share. The firm’s revenue for the quarter was down 23.2% on a year-over-year basis. On average, analysts forecast that Hasbro will post 3.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hasbro

Several institutional investors have recently modified their holdings of the company. Capital Research Global Investors lifted its stake in Hasbro by 27.0% in the 4th quarter. Capital Research Global Investors now owns 15,381,255 shares of the company’s stock valued at $785,367,000 after buying an additional 3,273,563 shares in the last quarter. Morgan Stanley lifted its stake in shares of Hasbro by 232.3% during the 4th quarter. Morgan Stanley now owns 3,634,864 shares of the company’s stock worth $221,763,000 after purchasing an additional 2,541,129 shares during the period. State Street Corp lifted its stake in shares of Hasbro by 35.8% during the 1st quarter. State Street Corp now owns 6,888,597 shares of the company’s stock worth $369,849,000 after purchasing an additional 1,814,972 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Hasbro by 76.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,281,877 shares of the company’s stock worth $217,063,000 after purchasing an additional 1,423,517 shares during the period. Finally, Norges Bank purchased a new position in shares of Hasbro during the 4th quarter worth $70,544,000. 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.