Bank of America Raises Hasbro (NASDAQ:HAS) Price Target to $90.00

Hasbro (NASDAQ:HAS) had its target price raised by equities research analysts at Bank of America from $85.00 to $90.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price indicates a potential upside of 15.67% from the company’s current price.

A number of other equities analysts have also issued reports on HAS. Morgan Stanley increased their price target on Hasbro from $71.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, May 29th. Monness Crespi & Hardt raised Hasbro to a “strong-buy” rating in a report on Tuesday, April 22nd. Citigroup reissued a “buy” rating and issued a $79.00 price target (up from $72.00) on shares of Hasbro in a report on Monday, June 16th. Wall Street Zen raised shares of Hasbro from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Finally, The Goldman Sachs Group upgraded shares of Hasbro from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $85.00 in a report on Monday, June 30th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $81.11.

Hasbro Price Performance

Shares of HAS opened at $77.81 on Thursday. Hasbro has a one year low of $49.00 and a one year high of $78.83. The stock’s fifty day moving average is $70.39 and its 200-day moving average is $63.00. The company has a debt-to-equity ratio of 2.78, a quick ratio of 1.40 and a current ratio of 1.65. The firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 2.11 and a beta of 0.59.

Hasbro (NASDAQ:HAS) last released its earnings results on Thursday, April 24th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.67 by $0.37. The firm had revenue of $887.10 million for the quarter, compared to analysts’ expectations of $770.60 million. Hasbro had a net margin of 9.99% and a return on equity of 51.39%. Hasbro’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the company earned $0.61 EPS. Equities analysts anticipate that Hasbro will post 4.33 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Truist Financial Corp boosted its stake in Hasbro by 35.0% in the 2nd quarter. Truist Financial Corp now owns 42,126 shares of the company’s stock worth $3,110,000 after purchasing an additional 10,931 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Hasbro by 10.5% during the second quarter. Janney Montgomery Scott LLC now owns 29,060 shares of the company’s stock valued at $2,145,000 after buying an additional 2,750 shares in the last quarter. V Square Quantitative Management LLC raised its position in Hasbro by 12.6% during the second quarter. V Square Quantitative Management LLC now owns 3,655 shares of the company’s stock valued at $270,000 after buying an additional 409 shares during the period. Sound Income Strategies LLC lifted its stake in Hasbro by 5.4% in the 2nd quarter. Sound Income Strategies LLC now owns 179,257 shares of the company’s stock worth $13,233,000 after acquiring an additional 9,229 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its position in Hasbro by 4,704.1% during the 2nd quarter. Avior Wealth Management LLC now owns 9,272 shares of the company’s stock worth $684,000 after acquiring an additional 9,079 shares during the period. 91.83% of the stock is owned by hedge funds and other institutional investors.

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.