Hasbro Inc. (HAS) Rating Lowered to Neutral at Piper Jaffray Cos.
Hasbro Inc. (NASDAQ:HAS) was downgraded by analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a report released on Monday. They presently have a $88.00 price target on the stock. Piper Jaffray Cos.’s target price suggests a potential upside of 1.59% from the stock’s current price. The analysts noted that the move was a valuation call.
Several other brokerages have also recently weighed in on HAS. Barclays PLC reiterated an “equal weight” rating on shares of Hasbro in a research note on Friday, October 21st. Jefferies Group reiterated a “hold” rating and issued a $82.00 price objective on shares of Hasbro in a research note on Wednesday, October 19th. MKM Partners reiterated a “neutral” rating and issued a $84.00 price objective on shares of Hasbro in a research note on Friday, October 14th. Zacks Investment Research cut shares of Hasbro from a “buy” rating to a “hold” rating in a research note on Thursday, October 13th. Finally, Vetr upgraded shares of Hasbro from a “hold” rating to a “buy” rating and set a $85.90 price objective on the stock in a research note on Monday, September 12th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Hasbro has a consensus rating of “Hold” and a consensus price target of $86.90.
Hasbro (NASDAQ:HAS) opened at 86.62 on Monday. Hasbro has a 52 week low of $64.91 and a 52 week high of $88.53. The company’s 50-day moving average is $82.90 and its 200 day moving average is $82.67. The stock has a market cap of $10.81 billion, a PE ratio of 20.58 and a beta of 0.85.
Hasbro (NASDAQ:HAS) last announced its quarterly earnings data on Monday, October 17th. The company reported $2.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.29. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.55 billion. Hasbro had a net margin of 11.01% and a return on equity of 32.27%. Hasbro’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.58 EPS. On average, analysts expect that Hasbro will post $4.13 earnings per share for the current fiscal year.
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A number of large investors have recently made changes to their positions in the stock. A.R.T. Advisors LLC bought a new stake in shares of Hasbro during the first quarter worth about $672,000. Panagora Asset Management Inc. raised its stake in shares of Hasbro by 10.1% in the first quarter. Panagora Asset Management Inc. now owns 120,593 shares of the company’s stock worth $9,659,000 after buying an additional 11,049 shares during the period. Arizona State Retirement System raised its stake in shares of Hasbro by 0.7% in the first quarter. Arizona State Retirement System now owns 41,905 shares of the company’s stock worth $3,357,000 after buying an additional 300 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Hasbro by 32.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,433 shares of the company’s stock worth $512,000 after buying an additional 1,564 shares during the period. Finally, First Republic Investment Management Inc. raised its position in Hasbro by 151.0% in the first quarter. First Republic Investment Management Inc. now owns 68,381 shares of the company’s stock worth $5,478,000 after buying an additional 41,138 shares during the period. 78.26% of the stock is owned by institutional investors and hedge funds.
Hasbro Company Profile
Hasbro, Inc (Hasbro) is a branded-play company. The Company’s operating segments include the U.S. and Canada segment, the International segment, the Entertainment and Licensing segment, and Global Operations segment. The U.S. and Canada segment is engaged in the marketing and sale of its products in the United States.
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