Hasbro (NASDAQ:HAS) Hits New 1-Year High After Analyst Upgrade

Shares of Hasbro, Inc. (NASDAQ:HAS) hit a new 52-week high during mid-day trading on Monday after Bank of America raised their price target on the stock from $85.00 to $90.00. Bank of America currently has a buy rating on the stock. Hasbro traded as high as $70.86 and last traded at $70.45, with a volume of 158411 shares traded. The stock had previously closed at $68.73.

A number of other analysts have also issued reports on HAS. Stifel Nicolaus boosted their price target on Hasbro from $76.00 to $78.00 and gave the company a “buy” rating in a report on Friday, July 26th. UBS Group boosted their price target on Hasbro from $68.00 to $69.00 and gave the company a “buy” rating in a report on Friday, May 24th. Morgan Stanley boosted their price target on Hasbro from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. upgraded Hasbro from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $61.00 to $74.00 in a report on Thursday, May 23rd. Finally, DA Davidson reiterated a “neutral” rating and issued a $59.00 price target on shares of Hasbro in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Hasbro currently has an average rating of “Moderate Buy” and a consensus target price of $70.55.

Hedge Funds Weigh In On Hasbro

Several institutional investors and hedge funds have recently modified their holdings of HAS. Lindbrook Capital LLC increased its stake in Hasbro by 56.2% during the 1st quarter. Lindbrook Capital LLC now owns 464 shares of the company’s stock worth $26,000 after buying an additional 167 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in Hasbro during the 2nd quarter worth approximately $27,000. Asset Dedication LLC increased its stake in Hasbro by 290.1% during the 2nd quarter. Asset Dedication LLC now owns 472 shares of the company’s stock worth $28,000 after buying an additional 351 shares in the last quarter. Optiver Holding B.V. purchased a new stake in Hasbro during the 4th quarter worth approximately $36,000. Finally, Neo Ivy Capital Management purchased a new stake in Hasbro during the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Hasbro Trading Up 0.9 %

The company has a 50 day simple moving average of $64.72 and a 200 day simple moving average of $60.34. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.27 and a current ratio of 1.46. The company has a market capitalization of $9.80 billion, a PE ratio of -6.94, a price-to-earnings-growth ratio of 0.52 and a beta of 0.61.

Hasbro (NASDAQ:HAS) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.44. Hasbro had a positive return on equity of 38.83% and a negative net margin of 22.78%. The firm had revenue of $995.30 million for the quarter, compared to analysts’ expectations of $941.38 million. During the same period in the prior year, the firm posted $0.49 earnings per share. The firm’s quarterly revenue was down 17.7% on a year-over-year basis. Analysts anticipate that Hasbro, Inc. will post 3.93 earnings per share for the current year.

Hasbro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Wednesday, August 21st. Hasbro’s payout ratio is currently -27.61%.

Hasbro Company Profile

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.