JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Hasbro (NASDAQ:HAS) Stock

Hasbro (NASDAQ:HAS) had its target price raised by stock analysts at JPMorgan Chase & Co. from $115.00 to $125.00 in a research report issued on Thursday,MarketScreener reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 29.26% from the company’s current price.

Several other analysts have also recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Hasbro in a research note on Wednesday, March 11th. They set an “equal weight” rating and a $98.00 price objective for the company. Roth Mkm set a $120.00 price objective on shares of Hasbro in a research note on Wednesday, February 11th. UBS Group upped their price objective on shares of Hasbro from $99.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Argus set a $105.00 price objective on shares of Hasbro in a research note on Friday, March 13th. Finally, The Goldman Sachs Group upped their price objective on shares of Hasbro from $88.00 to $114.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $113.79.

Hasbro Price Performance

NASDAQ HAS traded up $0.13 during trading hours on Thursday, hitting $96.71. 81,872 shares of the company’s stock traded hands, compared to its average volume of 1,892,917. Hasbro has a 52-week low of $59.85 and a 52-week high of $106.98. The company has a market capitalization of $13.69 billion, a PE ratio of -41.11 and a beta of 0.55. The company has a debt-to-equity ratio of 4.89, a current ratio of 1.38 and a quick ratio of 1.24. The firm’s 50-day moving average is $94.76 and its 200-day moving average is $86.77.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.52. Hasbro had a negative net margin of 6.86% and a positive return on equity of 127.21%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the company earned $0.46 EPS. Hasbro’s revenue was up 31.3% compared to the same quarter last year. Equities analysts forecast that Hasbro will post 5.66 EPS for the current fiscal year.

Insider Activity

In other news, CFO Gina M. Goetter sold 12,429 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $103.46, for a total value of $1,285,904.34. Following the completion of the sale, the chief financial officer owned 68,221 shares of the company’s stock, valued at $7,058,144.66. This represents a 15.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Tarrant L. Sibley sold 15,148 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $104.98, for a total transaction of $1,590,237.04. Following the completion of the sale, the executive vice president directly owned 50,174 shares of the company’s stock, valued at approximately $5,267,266.52. This trade represents a 23.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 413,342 shares of company stock worth $42,241,679. Corporate insiders own 0.85% of the company’s stock.

Institutional Trading of Hasbro

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted 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 worth $1,392,088,000 after acquiring an additional 453,038 shares during the last quarter. State Street Corp lifted its holdings 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 acquiring an additional 131,678 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Hasbro by 47.3% in the 4th quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company’s stock worth $357,286,000 after acquiring an additional 1,399,499 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 worth $299,700,000 after acquiring an additional 122,592 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Hasbro by 21.9% in the 3rd quarter. Bank of America Corp DE now owns 3,633,213 shares of the company’s stock worth $275,579,000 after acquiring an additional 651,790 shares during the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.

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.