Hasbro Shares Tumble as Analysts See Weaker Holiday Toy Sales

Shares of Hasbro (HAS) tumbled after BMO Capital analysts said that toy sales appear weaker this holiday season, making it TheStreet's Move of the Day.
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Shares of Hasbro (HAS) tumbled after BMO Capital analysts said that toy sales appear weaker this holiday season, making it TheStreet's Move of the Day. The Rhode Island-based toy maker had its price target lowered at BMO Friday morning. However, the firm maintained its MARKET PERFORM rating, saying it believes industry sales appear to be soft for the holiday period. Analysts noted that the domestic toy industry has taken a turn for the worse in the fourth quarter. BMO also thinks Hasbro will end up with high levels of unsold inventory, which could increase risk of lower margins. The firm also cut its price target on shares of competing company Mattel (MAT).