Hasbro (NASDAQ:HAS) Rating Lowered to Buy at Wall Street Zen

Hasbro (NASDAQ:HAS) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Several other brokerages have also recently issued reports on HAS. Zacks Research cut shares of Hasbro from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. UBS Group lifted their price objective on Hasbro from $88.00 to $89.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Hasbro in a report on Wednesday, October 8th. The Goldman Sachs Group boosted their price target on Hasbro from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Finally, Citigroup upped their price target on shares of Hasbro from $91.00 to $97.00 and gave the company a “buy” rating in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.33.

Hasbro Trading Down 2.9%

Hasbro stock opened at $81.55 on Friday. Hasbro has a one year low of $49.00 and a one year high of $85.14. The business’s fifty day moving average is $77.86 and its 200 day moving average is $76.09. The stock has a market capitalization of $11.44 billion, a PE ratio of -20.34, a price-to-earnings-growth ratio of 1.63 and a beta of 0.55. The company has a debt-to-equity ratio of 7.65, a current ratio of 1.70 and a quick ratio of 1.42.

Hasbro (NASDAQ:HAS) last posted its earnings results on Thursday, October 23rd. The company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.05. Hasbro had a negative net margin of 12.81% and a positive return on equity of 82.17%. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the business earned $1.73 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, sell-side analysts predict that Hasbro will post 4.33 EPS for the current year.

Insider Activity

In related news, Director Hope F. Cochran sold 4,000 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $77.24, for a total value of $308,960.00. Following the completion of the transaction, the director owned 17,102 shares of the company’s stock, valued at approximately $1,320,958.48. This represents a 18.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hasbro

Several large investors have recently made changes to their positions in the business. Bank of America Corp DE grew its position in shares of Hasbro by 128.7% during the second quarter. Bank of America Corp DE now owns 2,981,423 shares of the company’s stock worth $220,089,000 after purchasing an additional 1,677,962 shares in the last quarter. Norges Bank bought a new position in Hasbro in the 2nd quarter worth approximately $123,710,000. AQR Capital Management LLC grew its holdings in Hasbro by 95.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,259,812 shares of the company’s stock valued at $164,831,000 after buying an additional 1,105,004 shares in the last quarter. Mane Global Capital Management LP bought a new stake in shares of Hasbro during the second quarter valued at approximately $77,471,000. Finally, Nuveen LLC purchased a new position in shares of Hasbro in the first quarter worth $30,347,000. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Hasbro Company Profile

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.