Hasbro, Inc. (NASDAQ:HAS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $107.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.55% from the company’s current price.

According to Zacks, “Hasbro‘s earnings have topped the Zacks Consensus Estimate in all the trailing 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, the Franchise and Partner Brands, particularly, are expected to perform consistently in 2017 given global digital content and innovative offerings. Yet, rising competition from alternative modes of entertainment might limit top-line growth, while high costs along with macroeconomic and currency headwinds may dent profits. Even so, this year’s rich content slate, new product launches, various sales boosting initiatives along with a favorable gaming portfolio is likely to drive growth ahead. “

Other equities research analysts have also recently issued research reports about the stock. Jefferies Group LLC assumed coverage on shares of Hasbro in a report on Thursday, June 8th. They set a “buy” rating and a $125.00 price target on the stock. BidaskClub upgraded shares of Hasbro from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd. Stifel Nicolaus reiterated a “hold” rating and set a $107.00 price target (up previously from $100.00) on shares of Hasbro in a report on Thursday, July 13th. DA Davidson reiterated a “buy” rating and set a $121.00 price target (up previously from $118.00) on shares of Hasbro in a report on Saturday, July 22nd. Finally, Argus assumed coverage on shares of Hasbro in a report on Friday, June 16th. They set a “buy” rating and a $128.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $107.27.

Shares of Hasbro (NASDAQ:HAS) traded down 0.93% during trading on Thursday, reaching $95.07. 880,908 shares of the company traded hands. Hasbro has a 12-month low of $76.14 and a 12-month high of $116.20. The stock has a market capitalization of $11.89 billion, a P/E ratio of 20.59 and a beta of 0.92. The firm’s 50 day moving average is $98.20 and its 200-day moving average is $102.08.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings results on Monday, July 24th. The company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.07. Hasbro had a net margin of 11.44% and a return on equity of 32.24%. The firm had revenue of $972.51 million for the quarter, compared to analysts’ expectations of $974.19 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts anticipate that Hasbro will post $5.07 earnings per share for the current fiscal year.

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In other Hasbro news, CEO Brian Goldner sold 205,656 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $105.69, for a total value of $21,735,782.64. Following the transaction, the chief executive officer now directly owns 354,891 shares in the company, valued at $37,508,429.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephen J. Davis sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $97.57, for a total transaction of $146,355.00. Following the completion of the transaction, the executive vice president now owns 39,125 shares in the company, valued at $3,817,426.25. The disclosure for this sale can be found here. Insiders sold 1,423,264 shares of company stock worth $145,144,664 over the last quarter. Insiders own 11.00% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kornitzer Capital Management Inc. KS raised its position in Hasbro by 0.3% in the second quarter. Kornitzer Capital Management Inc. KS now owns 3,675 shares of the company’s stock worth $410,000 after acquiring an additional 10 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Hasbro by 0.6% in the first quarter. Oppenheimer & Co. Inc. now owns 4,973 shares of the company’s stock worth $496,000 after purchasing an additional 30 shares in the last quarter. YorkBridge Wealth Partners LLC increased its stake in shares of Hasbro by 2.8% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,164 shares of the company’s stock worth $129,000 after purchasing an additional 32 shares in the last quarter. Bollard Group LLC increased its stake in shares of Hasbro by 0.6% in the second quarter. Bollard Group LLC now owns 7,090 shares of the company’s stock worth $791,000 after purchasing an additional 40 shares in the last quarter. Finally, Coe Capital Management LLC increased its stake in shares of Hasbro by 0.3% in the first quarter. Coe Capital Management LLC now owns 19,100 shares of the company’s stock worth $1,907,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Hasbro Company Profile

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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Analyst Recommendations for Hasbro (NASDAQ:HAS)

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