Hasbro (NASDAQ:HAS) Given New $100.00 Price Target at Bank of America

Key Points

• Bank of America raised Hasbro's price target from $95.00 to $100.00, suggesting a potential upside of 32.72% from its current price.
• Hasbro's stock is currently rated as a "Moderate Buy" by analysts, with a consensus price target of $87.25.
• Despite recent positive earnings results, Hasbro's stock declined by 0.3%, trading at $75.34 after 183,749 shares exchanged hands.

Hasbro (NASDAQ:HAS - Get Free Report) had its target price lifted by equities research analysts at Bank of America from $95.00 to $100.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's price objective indicates a potential upside of 32.72% from the company's current price.

Several other analysts have also recently weighed in on the stock. Roth Capital lifted their price objective on shares of Hasbro from $86.00 to $92.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. DA Davidson boosted their target price on shares of Hasbro from $75.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Citigroup boosted their target price on shares of Hasbro from $79.00 to $91.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. UBS Group boosted their price target on shares of Hasbro from $82.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Finally, The Goldman Sachs Group upgraded shares of Hasbro from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $66.00 to $85.00 in a research report on Monday, June 30th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Hasbro currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.25.

Hasbro Stock Down 0.3%

Hasbro stock traded down $0.25 during mid-day trading on Monday, reaching $75.34. The company's stock had a trading volume of 183,749 shares, compared to its average volume of 1,961,664. The company has a market capitalization of $10.57 billion, a price-to-earnings ratio of -18.56, a price-to-earnings-growth ratio of 0.98 and a beta of 0.59. Hasbro has a 12 month low of $49.00 and a 12 month high of $82.19. The business's 50 day simple moving average is $77.92 and its 200 day simple moving average is $69.24. The company has a debt-to-equity ratio of 12.31, a quick ratio of 1.32 and a current ratio of 1.66.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.52. The company had revenue of $980.80 million during the quarter, compared to analysts' expectations of $891.82 million. Hasbro had a negative net margin of 13.37% and a positive return on equity of 64.49%. Hasbro's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.22 EPS. As a group, research analysts anticipate that Hasbro will post 4.33 earnings per share for the current year.

Insider Activity at Hasbro

In other news, insider Timothy J. Kilpin sold 8,557 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $81.44, for a total value of $696,882.08. Following the sale, the insider directly owned 44,301 shares of the company's stock, valued at approximately $3,607,873.44. This represents a 16.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Roberta K. Thomson sold 1,002 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $79.81, for a total transaction of $79,969.62. Following the completion of the sale, the insider directly owned 51,301 shares in the company, valued at approximately $4,094,332.81. The trade was a 1.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,359 shares of company stock worth $2,970,828. 0.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hasbro

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Hasbro by 0.7% during the second quarter. Vanguard Group Inc. now owns 16,574,471 shares of the company's stock worth $1,223,527,000 after acquiring an additional 110,433 shares in the last quarter. State Street Corp raised its position in shares of Hasbro by 2.1% in the 2nd quarter. State Street Corp now owns 6,508,052 shares of the company's stock worth $480,424,000 after purchasing an additional 131,678 shares during the last quarter. Bank of America Corp DE grew its position in Hasbro by 128.7% during the 2nd quarter. Bank of America Corp DE now owns 2,981,423 shares of the company's stock valued at $220,089,000 after purchasing an additional 1,677,962 shares during the last quarter. Marshall Wace LLP increased its stake in Hasbro by 15.1% during the 2nd quarter. Marshall Wace LLP now owns 2,634,857 shares of the company's stock valued at $194,505,000 after purchasing an additional 346,637 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Hasbro by 11.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,287,647 shares of the company's stock valued at $140,652,000 after purchasing an additional 227,477 shares in the last quarter. 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.

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