Hasbro (NASDAQ:HAS) Price Target Lowered to $101.00 at Citigroup

Key Points

• Citigroup cut Hasbro’s price target from $114 to $101, though it kept a buy rating on the stock. The new target still implies about 27.95% upside from the prior close.
• Other analysts remain generally positive on Hasbro, with several recent target increases and ratings changes. The stock currently has an overall Moderate Buy consensus and an average target price of $112.21.
• Hasbro shares rose 2.0% to $78.94, and the company’s latest earnings beat expectations with $1.47 EPS versus $1.20 expected and revenue of $1 billion, up 12.7% year over year.

Hasbro (NASDAQ:HAS - Get Free Report) had its price target cut by investment analysts at Citigroup from $114.00 to $101.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price target points to a potential upside of 27.95% from the company's previous close.

Several other research firms also recently commented on HAS. Zacks Research raised shares of Hasbro from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 27th. Argus set a $105.00 price objective on Hasbro in a research note on Friday, March 13th. Morgan Stanley boosted their price objective on Hasbro from $122.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, May 14th. BNP Paribas Exane raised their target price on Hasbro from $115.00 to $117.00 and gave the stock an "outperform" rating in a report on Thursday, May 21st. Finally, Wall Street Zen downgraded Hasbro from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $112.21.

Hasbro Stock Up 2.0%

Hasbro stock traded up $1.54 during midday trading on Friday, hitting $78.94. 678,065 shares of the company's stock were exchanged, compared to its average volume of 1,937,903. The company has a debt-to-equity ratio of 4.59, a quick ratio of 1.49 and a current ratio of 1.65. The company has a market cap of $11.17 billion, a PE ratio of -47.54, a P/E/G ratio of 1.86 and a beta of 0.49. The firm has a 50-day moving average of $86.92 and a two-hundred day moving average of $90.33. Hasbro has a 12 month low of $69.50 and a 12 month high of $106.98.

Hasbro (NASDAQ:HAS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.27. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $969.20 million. Hasbro had a negative net margin of 4.62% and a positive return on equity of 174.64%. The company's revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.04 EPS. As a group, analysts expect that Hasbro will post 5.98 earnings per share for the current fiscal year.

Institutional Trading of Hasbro

Hedge funds and other institutional investors have recently modified their holdings of the stock. CYBER HORNET ETFs LLC acquired a new position in Hasbro during the 2nd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Hasbro in the fourth quarter valued at $27,000. MUFG Securities EMEA plc acquired a new stake in Hasbro in the second quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings 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 buying an additional 357 shares during the last quarter. Finally, Cedar Mountain Advisors LLC acquired a new position in shares of Hasbro during the 1st quarter worth about $37,000. 91.83% of the stock is owned by institutional investors and hedge funds.

Hasbro Company Profile

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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