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

Hasbro (NASDAQ:HAS) had its price objective reduced by equities research analysts at Citigroup from $114.00 to $101.00 in a report released 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 stock’s current price.

Several other brokerages have also recently issued reports on HAS. UBS Group reissued a “buy” rating and issued a $110.00 price objective on shares of Hasbro in a research note on Thursday, June 18th. Zacks Research raised shares of Hasbro from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 27th. Bank of America raised their price objective on shares of Hasbro from $113.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. BNP Paribas Exane boosted their target price on Hasbro from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Finally, Argus set a $105.00 price target on Hasbro in a research note on Friday, March 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Hasbro currently has an average rating of “Moderate Buy” and a consensus target price of $112.21.

Hasbro Stock Performance

Shares of HAS traded up $1.54 during mid-day 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 current ratio of 1.65, a quick ratio of 1.49 and a debt-to-equity ratio of 4.59. Hasbro has a fifty-two week low of $69.50 and a fifty-two week high of $106.98. The business’s 50 day moving average is $86.92 and its two-hundred day moving average is $90.33. The firm has a market capitalization of $11.17 billion, a P/E ratio of -47.54, a P/E/G ratio of 1.86 and a beta of 0.49.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.20 by $0.27. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $969.20 million. Hasbro had a positive return on equity of 174.64% and a negative net margin of 4.62%.The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 EPS. On average, equities analysts expect that Hasbro will post 5.98 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HAS. Vanguard Group Inc. increased its holdings in shares of Hasbro by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 16,976,679 shares of the company’s stock valued at $1,392,088,000 after acquiring an additional 453,038 shares during the last quarter. State Street Corp raised its position in shares of Hasbro by 2.1% during the 2nd quarter. State Street Corp now owns 6,508,052 shares of the company’s stock valued at $480,424,000 after acquiring an additional 131,678 shares in the last quarter. AQR Capital Management LLC lifted its stake in Hasbro by 47.3% during the fourth quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company’s stock worth $357,286,000 after purchasing an additional 1,399,499 shares during the last quarter. Geode Capital Management LLC lifted its stake in Hasbro by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 3,661,020 shares of the company’s stock worth $299,700,000 after purchasing an additional 122,592 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Hasbro by 21.9% in the third quarter. Bank of America Corp DE now owns 3,633,213 shares of the company’s stock worth $275,579,000 after purchasing an additional 651,790 shares during the period. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

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.