Hasbro (NASDAQ:HAS) Price Target Raised to $89.00

Hasbro (NASDAQ:HAS) had its price target lifted by investment analysts at UBS Group from $88.00 to $89.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 13.86% from the stock’s previous close.

A number of other research analysts also recently weighed in on HAS. JPMorgan Chase & Co. increased their price objective on shares of Hasbro from $75.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Morgan Stanley increased their price target on shares of Hasbro from $85.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Hasbro in a research report on Wednesday, October 8th. DA Davidson lifted their target price on shares of Hasbro from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Finally, Zacks Research lowered shares of Hasbro from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.33.

Hasbro Stock Down 0.9%

Shares of NASDAQ:HAS traded down $0.74 during trading on Friday, reaching $78.16. 582,780 shares of the stock traded hands, compared to its average volume of 1,955,125. The stock has a market cap of $10.97 billion, a P/E ratio of -19.51, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. The stock has a 50-day moving average of $76.08 and a two-hundred day moving average of $73.69. Hasbro has a 52-week low of $49.00 and a 52-week high of $82.19. The company has a debt-to-equity ratio of 7.65, a quick ratio of 1.42 and a current ratio of 1.70.

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

Insider Activity

In related news, insider Timothy J. Kilpin sold 8,557 shares of Hasbro stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $81.44, for a total value of $696,882.08. Following the completion of the sale, the insider directly owned 44,301 shares in the company, valued at $3,607,873.44. The trade was a 16.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christian P. Cocks sold 27,800 shares of Hasbro stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $78.92, for a total transaction of $2,193,976.00. Following the transaction, the chief executive officer directly owned 249,861 shares in the company, valued at approximately $19,719,030.12. The trade was a 10.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 40,357 shares of company stock worth $3,199,818. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Hasbro

Several institutional investors and hedge funds have recently bought and sold shares of HAS. CYBER HORNET ETFs LLC purchased a new position in Hasbro during the 2nd quarter worth $25,000. First Horizon Corp acquired a new stake in Hasbro in the third quarter worth about $29,000. MUFG Securities EMEA plc purchased a new stake in shares of Hasbro during the second quarter worth about $28,000. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Hasbro during the third quarter valued at about $34,000. Finally, Pittenger & Anderson Inc. purchased a new position in shares of Hasbro in the 2nd quarter valued at approximately $35,000. 91.83% of the stock is owned by hedge funds and other institutional investors.

About Hasbro

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.