Hasbro, Inc. (HAS) Upgraded at Zacks Investment Research
Hasbro, Inc. (NASDAQ:HAS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm currently has a $110.00 price target on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 16.91% from the stock’s previous close.
According to Zacks, “Hasbro’s earnings have topped the Zacks Consensus Estimate in all the past 10 quarters. Revenues too have been surpassing the consensus mark, except for the last quarter. Consistent efforts to establish its global presence via strategic partnerships and rapid growth in emerging markets should continue driving the top- and bottom–line performance. Going forward, this year’s rich content slate, new product launches, diverse initiatives to boost sales along with a favorable gaming portfolio is likely to further drive growth. The Franchise and Partner Brands, particularly, are also expected to perform consistently in 2017 given global digital content and innovative offerings. Yet, increased competition from alternative modes of entertainment might limit top-line growth, while high costs along with macroeconomic and currency headwinds may pressurize profits.”
A number of other research firms have also recently commented on HAS. BidaskClub raised shares of Hasbro from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 8th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Hasbro in a report on Friday, July 21st. DA Davidson reaffirmed a “buy” rating and issued a $121.00 price target (up previously from $118.00) on shares of Hasbro in a report on Saturday, July 22nd. Argus assumed coverage on shares of Hasbro in a report on Friday, June 16th. They issued a “buy” rating and a $128.00 price target for the company. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $112.00 price target on shares of Hasbro in a report on Wednesday, August 30th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Hasbro has a consensus rating of “Hold” and an average price target of $106.04.
Shares of Hasbro (NASDAQ:HAS) traded up 1.53% during mid-day trading on Wednesday, reaching $94.09. The company’s stock had a trading volume of 1,356,453 shares. The company has a 50-day moving average of $99.68 and a 200-day moving average of $102.16. The company has a market cap of $11.77 billion, a P/E ratio of 20.38 and a beta of 0.92. Hasbro has a 12 month low of $76.14 and a 12 month high of $116.20.
Hasbro (NASDAQ:HAS) last issued its earnings results on Monday, July 24th. The company reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.07. The business had revenue of $972.51 million for the quarter, compared to the consensus estimate of $974.19 million. Hasbro had a net margin of 11.44% and a return on equity of 32.24%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 EPS. Equities research analysts forecast that Hasbro will post $5.07 earnings per share for the current fiscal year.
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In other news, President John Frascotti sold 25,658 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $94.81, for a total value of $2,432,634.98. Following the transaction, the president now directly owns 105,615 shares of the company’s stock, valued at $10,013,358.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Barbara Finigan sold 23,483 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $106.30, for a total transaction of $2,496,242.90. Following the completion of the transaction, the executive vice president now directly owns 32,345 shares in the company, valued at $3,438,273.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,423,264 shares of company stock worth $145,144,664. Insiders own 11.00% of the company’s stock.
Several large investors have recently bought and sold shares of HAS. Nationwide Fund Advisors lifted its stake in shares of Hasbro by 209.9% in the first quarter. Nationwide Fund Advisors now owns 94,977 shares of the company’s stock worth $9,481,000 after buying an additional 64,333 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Hasbro by 5,800.0% in the first quarter. Acadian Asset Management LLC now owns 1,416 shares of the company’s stock worth $141,000 after buying an additional 1,392 shares in the last quarter. Strs Ohio lifted its stake in shares of Hasbro by 11.2% in the first quarter. Strs Ohio now owns 16,889 shares of the company’s stock worth $1,685,000 after buying an additional 1,706 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its stake in shares of Hasbro by 13.7% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,636 shares of the company’s stock worth $961,000 after buying an additional 1,160 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Hasbro by 3.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,052 shares of the company’s stock worth $1,802,000 after buying an additional 607 shares in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.
Hasbro, Inc (Hasbro) is a play and entertainment company. The Company’s operating segments include the U.S. and Canada, International, and Entertainment and Licensing. From toys and games to content development, including television programming, motion pictures, digital gaming and a consumer products licensing program, Hasbro fulfills the fundamental need for play and connection for children and families around the world.
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