The Goldman Sachs Group Cuts Hasbro (NASDAQ:HAS) Price Target to $115.00

Key Points

• Goldman Sachs lowered Hasbro’s price target from $117 to $115 while maintaining a “buy” rating, implying approximately 32.28% upside from the prior close.
• Analyst sentiment remains positive, with 12 buy ratings and four holds; the consensus rating is “Moderate Buy” with an average price target of $109.50.
• Hasbro exceeded quarterly expectations, reporting $1.28 in EPS versus $1.16 estimated and $1.14 billion in revenue, up 16.2% year over year.

Hasbro (NASDAQ:HAS - Get Free Report) had its price objective cut by The Goldman Sachs Group from $117.00 to $115.00 in a report issued on Monday. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's price target suggests a potential upside of 32.28% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Roth Capital reaffirmed a "buy" rating on shares of Hasbro in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Hasbro from a "sell (d+)" rating to a "hold (c+)" rating in a research note on Friday, July 31st. Bank of America cut their price target on shares of Hasbro from $115.00 to $105.00 and set a "buy" rating for the company in a report on Thursday, July 16th. Citigroup restated a "buy" rating on shares of Hasbro in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Hasbro from $125.00 to $111.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $109.50.

Hasbro Price Performance

Hasbro stock opened at $86.94 on Monday. Hasbro has a one year low of $69.50 and a one year high of $106.98. The business has a fifty day moving average price of $91.66 and a 200-day moving average price of $89.94. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.66 and a quick ratio of 1.46. The firm has a market capitalization of $12.26 billion, a P/E ratio of 15.72, a PEG ratio of 1.50 and a beta of 0.47.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.12. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the prior year, the firm posted $1.30 EPS. The firm's quarterly revenue was up 16.2% on a year-over-year basis. As a group, equities research analysts forecast that Hasbro will post 6.16 EPS for the current year.

Insider Transactions at Hasbro

In other news, insider Holly Barbacovi sold 5,057 shares of Hasbro stock in a transaction on Monday, August 31st. The shares were sold at an average price of $94.20, for a total transaction of $476,369.40. Following the completion of the sale, the insider directly owned 37,486 shares of the company's stock, valued at approximately $3,531,181.20. The trade was a 11.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Hight sold 3,186 shares of the company's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $93.71, for a total transaction of $298,560.06. Following the completion of the transaction, the insider owned 67,557 shares of the company's stock, valued at $6,330,766.47. This trade represents a 4.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 50,472 shares of company stock worth $4,736,533. Company insiders own 0.71% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Hasbro during the second quarter valued at about $2,204,689,000. Geode Capital Management LLC lifted its stake in shares of Hasbro by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 3,661,020 shares of the company's stock valued at $299,700,000 after acquiring an additional 122,592 shares during the last quarter. Bank of America Corp DE purchased a new stake in Hasbro during the 2nd quarter valued at about $289,258,000. Capital Research Global Investors boosted its holdings in Hasbro by 5.3% during the 4th quarter. Capital Research Global Investors now owns 3,225,875 shares of the company's stock valued at $264,522,000 after acquiring an additional 162,354 shares during the period. Finally, Norges Bank bought a new position in Hasbro during the 4th quarter worth approximately $147,748,000. 91.83% of the stock is owned by hedge funds and other institutional investors.

About Hasbro

Hasbro, Inc is a global play and entertainment company that develops, markets and licenses toys, games and related entertainment experiences. Its portfolio includes well-known brands such as Monopoly, Play-Doh, Nerf, Transformers, My Little Pony, Magic: The Gathering and Dungeons & Dragons. The company serves consumers through retail, e-commerce, digital gaming, licensing and entertainment channels.

Hasbro's business includes consumer products, tabletop and digital gaming, and brand licensing.

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