Investors were likely spooked by Hasboro joining the growing ranks of firms who are cutting staff in anticipation of a recession. As reported this morning by Barrons's report: "Hasbro Stock Falls. Toy Maker Announced 1,000 Layoffs to Rein in Costs ..." For more coverage, read the full article here. On the back of this news, Hasbro sank -4.0% to a price of $61.24. Are the markets overreacting?
Hasbro, Inc., together with its subsidiaries, operates as a play and entertainment company. The company belongs to the Consumer Cyclical sector, which has an average price to earnings (P/E) ratio of 24.11 and an average price to book (P/B) ratio of 3.11. In contrast, Hasbro has a trailing 12 month P/E ratio of 20.6 and a P/B ratio of 2.8.
Hasbro has moved -29.1% over the last year compared to -8.4% for the S&P 500 -- a difference of -20.7%. Hasbro has a 52 week high of $105.13 and a 52 week low of $54.65. At today's price of $61.24 per share, Hasbro is -26.38% away from its target price of $83.18, and on average, analysts give the stock a rating of buy. 4.5% of the company's shares are linked to short positions, and 85.3% of the shares are owned by institutional investors.