Hasbro (NASDAQ:HAS) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Hasbro from “strong-buy” to “hold,” adding to a mixed analyst picture around the toy maker.
• Despite the downgrade, the broader analyst consensus remains Moderate Buy, with an average price target of $110.79 versus the stock’s recent opening price of $78.42.
• Hasbro’s latest earnings beat expectations, with EPS of $1.47 on $1 billion in revenue, and revenue rose 12.7% year over year.

Hasbro (NASDAQ:HAS - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. Weiss Ratings lowered shares of Hasbro from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, June 1st. BNP Paribas Exane upped their price objective on Hasbro from $115.00 to $117.00 and gave the stock an "outperform" rating in a report on Thursday, May 21st. DA Davidson reissued a "neutral" rating and issued a $100.00 target price on shares of Hasbro in a research note on Thursday, May 21st. Wells Fargo & Company cut their price target on Hasbro from $92.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 9th. Finally, JPMorgan Chase & Co. raised their price target on Hasbro from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $110.79.

Hasbro Stock Performance

Shares of NASDAQ:HAS opened at $78.42 on Monday. The business has a fifty day moving average of $85.97 and a 200-day moving average of $90.27. The company has a debt-to-equity ratio of 4.59, a quick ratio of 1.49 and a current ratio of 1.65. Hasbro has a twelve month low of $69.50 and a twelve month high of $106.98. The firm has a market cap of $11.10 billion, a PE ratio of -47.24, a price-to-earnings-growth ratio of 1.94 and a beta of 0.49.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.27. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $969.20 million. Hasbro had a negative net margin of 4.62% and a positive return on equity of 174.64%. The firm's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 EPS. On average, equities research analysts predict that Hasbro will post 6.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Hasbro

Hedge funds have recently added to or reduced their stakes in the stock. CYBER HORNET ETFs LLC acquired a new position in shares of Hasbro during the 2nd quarter worth about $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Hasbro in the 4th quarter valued at approximately $27,000. MUFG Securities EMEA plc bought a new position in Hasbro during the 2nd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Hasbro by 1,190.0% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 387 shares of the company's stock worth $32,000 after acquiring an additional 357 shares during the last quarter. Finally, Cedar Mountain Advisors LLC acquired a new position in Hasbro during the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 91.83% of the company's stock.

About Hasbro

Hasbro, Inc is a global play and entertainment company, known for designing, manufacturing and marketing a diverse portfolio of toys, games and consumer products. Founded in 1923 as Hassenfeld Brothers and headquartered in Pawtucket, Rhode Island, the company has grown into one of the foremost names in the toy industry, with a presence in retail, digital and entertainment channels worldwide.

The company's brand portfolio features iconic properties such as Monopoly, Play-Doh, Nerf, My Little Pony and Transformers.

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