Hasbro (HAS) is Downgraded by Piper Jaffray to Neutral, Price Target at $88

Hasbro (HAS) was Downgraded by Piper Jaffray to ” Neutral” and the brokerage firm has set the Price Target at $88. Earlier the firm had a rating of “Overweight ” on the company shares. Piper Jaffray advised their investors in a research report released on May 10, 2016.

Many Wall Street Analysts have commented on Hasbro. Company shares were Reiterated by Monness Crespi & Hardt on Apr 19, 2016 to “Buy”, Firm has raised the Price Target to $ 93 from a previous price target of $84 .JP Morgan Initiated Hasbro on Apr 7, 2016 to “Neutral”, Price Target of the shares are set at $81.Company shares were Reiterated by Piper Jaffray on Mar 31, 2016 to “Overweight”, Firm has raised the Price Target to $ 84 from a previous price target of $83 .

On the company’s financial health, Hasbro reported $0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Apr 18, 2016. Analyst had a consensus of $0.24. The company had revenue of $831.20 million for the quarter, compared to analysts expectations of $779.23 million. The company’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS.

Hasbro opened for trading at $83.42 and hit $85.17 on the upside on Friday, eventually ending the session at $85.09, with a gain of 1.84% or 1.54 points. The heightened volatility saw the trading volume jump to 8,58,070 shares. Company has a market cap of $10,611 M.

In a different news, on May 4, 2016, Deborah Thomas (EVP & Chief Financial Officer) sold 53,070 shares at $85.81 per share price. According to the SEC, on May 4, 2016, Wiebe Tinga (EVP & Chief Commercial Officer) sold 3,040 shares at $85.66 per share price. On Apr 27, 2016, Barbara Finigan (EVP, Chief Legal Officer & Sec) sold 19,885 shares at $87.04 per share price, according to the Form-4 filing with the securities and exchange commission.

Hasbro Inc. (Hasbro) through its wholly owned Hasbro Studios LLC (Hasbro Studios) creates entertainment brand storytelling across mediums including television film and among others. Its brand blueprint involves re-imagining re-inventing and re-igniting its owned and controlled brands and imagining inventing and igniting new brands through toy and game innovation immersive entertainment offerings including television programming and motion pictures and a range of products ranging from traditional to digital. The Company markets its brands under product categories which include boys games girls and preschool toys. The Company’s business operations include United States Canada International Entertainment and Licensing. Its global operations include arranging product manufacturing and sourcing for the United States and Canada and International operations. Its brands include LITTLEST PET SHOP MONOPOLY MY LITTLE PONY NERF PLAY-DOH and TRANSFORMERS.


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