Hasbro, Inc. (NASDAQ:HAS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

According to Zacks, “Hasbro’s third-quarter 2017 adjusted earnings of $2.09 per share surpassed the Zacks Consensus Estimate by 8.3% and grew 3% year over year. Also, revenues of $1.79 billion rose 7% year over year and topped the consensus mark by over 1%. The company’s revenues projected improvement in three out of its four brand portfolio categories. However, Hasbro’s shares underperformed the industry over the past three months. Meanwhile, the recent Toys "R" Us bankruptcy may continue to impact Hasbro’s revenue and operating profit in the near-term and weigh on its performance. The challenging retail environment for toys and increased competition from alternative modes of entertainment also raises concerns. Even so, consistent efforts to establish its global presence via strategic partnerships and rapid growth in emerging markets bode well. Still, high costs along with macroeconomic and currency headwinds may pressurize profits.”

HAS has been the topic of several other research reports. DA Davidson reiterated a “buy” rating and set a $124.00 price target (up previously from $121.00) on shares of Hasbro in a research note on Tuesday. SunTrust Banks, Inc. reiterated a “hold” rating and set a $102.00 price target on shares of Hasbro in a research note on Thursday, October 12th. BidaskClub upgraded Hasbro from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 8th. KeyCorp reiterated a “buy” rating and set a $105.00 price target on shares of Hasbro in a research note on Tuesday. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $107.00 price target (up previously from $100.00) on shares of Hasbro in a research note on Thursday, July 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $106.86.

Shares of Hasbro (NASDAQ:HAS) traded up 0.52% on Thursday, reaching $94.89. The company’s stock had a trading volume of 669,079 shares. The firm has a 50 day moving average price of $95.79 and a 200-day moving average price of $101.63. The stock has a market cap of $11.87 billion, a PE ratio of 20.55 and a beta of 0.92. Hasbro has a 12-month low of $77.20 and a 12-month high of $116.20.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings results on Monday, October 23rd. The company reported $2.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.15. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.77 billion. Hasbro had a return on equity of 31.74% and a net margin of 11.34%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.03 EPS. Equities research analysts expect that Hasbro will post $5.04 EPS for the current year.

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In other Hasbro news, 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 transaction, the executive vice president now owns 39,125 shares in the company, valued at $3,817,426.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan G. Hassenfeld sold 280,906 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $105.68, for a total value of $29,686,146.08. Following the transaction, the director now owns 29,140 shares in the company, valued at approximately $3,079,515.20. The disclosure for this sale can be found here. Insiders have sold 1,376,580 shares of company stock worth $140,177,283 in the last quarter. 11.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Hasbro by 5.7% during the second quarter. Vanguard Group Inc. now owns 12,882,037 shares of the company’s stock worth $1,436,475,000 after purchasing an additional 695,231 shares in the last quarter. BlackRock Inc. boosted its position in Hasbro by 7.6% during the second quarter. BlackRock Inc. now owns 9,880,626 shares of the company’s stock worth $1,101,787,000 after purchasing an additional 700,898 shares in the last quarter. Bank of America Corp DE boosted its position in Hasbro by 2.4% during the first quarter. Bank of America Corp DE now owns 5,474,161 shares of the company’s stock worth $546,431,000 after purchasing an additional 127,849 shares in the last quarter. State Street Corp boosted its position in Hasbro by 1.0% during the first quarter. State Street Corp now owns 5,013,445 shares of the company’s stock worth $500,457,000 after purchasing an additional 49,888 shares in the last quarter. Finally, Capital World Investors boosted its position in Hasbro by 38.9% during the third quarter. Capital World Investors now owns 4,893,373 shares of the company’s stock worth $388,191,000 after purchasing an additional 1,371,500 shares in the last quarter. Institutional investors own 77.73% 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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