Hasbro (NASDAQ:HAS) Trading 9% Higher After Earnings Beat

Hasbro, Inc. (NASDAQ:HAS) was up 9% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $68.73 and last traded at $66.65. Approximately 1,131,658 shares were traded during mid-day trading, a decline of 14% from the average daily volume of 1,315,244 shares. The stock had previously closed at $61.14.

The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.10. Hasbro had a negative net margin of 14.83% and a positive return on equity of 47.91%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on HAS shares. Morgan Stanley raised their price objective on Hasbro from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Stifel Nicolaus decreased their target price on shares of Hasbro from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Finally, DA Davidson upped their price target on shares of Hasbro from $59.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Hasbro has a consensus rating of “Moderate Buy” and a consensus price target of $80.11.

Insiders Place Their Bets

In other Hasbro news, EVP Matthew Edward Austin sold 1,718 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $65.06, for a total transaction of $111,773.08. Following the completion of the transaction, the executive vice president now owns 36,828 shares of the company’s stock, valued at $2,396,029.68. This represents a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HAS. True Wealth Design LLC bought a new position in Hasbro during the third quarter valued at $31,000. Blue Trust Inc. lifted its holdings in shares of Hasbro by 224.8% in the 3rd quarter. Blue Trust Inc. now owns 432 shares of the company’s stock valued at $31,000 after acquiring an additional 299 shares during the last quarter. Parvin Asset Management LLC purchased a new position in Hasbro in the fourth quarter worth about $25,000. Allworth Financial LP increased its stake in Hasbro by 120.1% during the fourth quarter. Allworth Financial LP now owns 482 shares of the company’s stock worth $28,000 after acquiring an additional 263 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new stake in Hasbro during the third quarter valued at approximately $40,000. 91.83% of the stock is currently owned by institutional investors.

Hasbro Price Performance

The firm has a market capitalization of $9.31 billion, a P/E ratio of -14.41, a price-to-earnings-growth ratio of 0.53 and a beta of 0.64. The company has a current ratio of 1.47, a quick ratio of 1.29 and a debt-to-equity ratio of 2.64. The firm has a 50 day moving average price of $58.21 and a 200-day moving average price of $64.13.

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.