BMO Capital Markets reissued their outperform rating on shares of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) in a research note issued to investors on Tuesday morning. They currently have a $52.00 target price on the credit services provider’s stock, up from their previous target price of $50.00.
Several other equities analysts have also issued reports on the company. BidaskClub upgraded Blackhawk Network Holdings from a hold rating to a buy rating in a research note on Thursday, June 29th. Zacks Investment Research upgraded Blackhawk Network Holdings from a sell rating to a hold rating in a research note on Tuesday, July 4th. TheStreet lowered Blackhawk Network Holdings from a b- rating to a c rating in a research note on Tuesday, June 20th. Citigroup Inc. upgraded Blackhawk Network Holdings from a neutral rating to a buy rating and lifted their target price for the company from $39.00 to $47.00 in a research note on Friday, May 19th. Finally, Mizuho initiated coverage on Blackhawk Network Holdings in a research note on Tuesday, June 27th. They issued a buy rating and a $50.00 target price on the stock. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Blackhawk Network Holdings currently has a consensus rating of Buy and a consensus target price of $45.86.
Shares of Blackhawk Network Holdings (HAWK) opened at 45.50 on Tuesday. Blackhawk Network Holdings has a one year low of $28.88 and a one year high of $46.70. The company’s market cap is $2.58 billion. The stock’s 50 day moving average is $43.56 and its 200-day moving average is $41.57.
Blackhawk Network Holdings (NASDAQ:HAWK) last announced its quarterly earnings results on Wednesday, July 19th. The credit services provider reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. The firm had revenue of $463.10 million for the quarter, compared to analyst estimates of $447.43 million. Blackhawk Network Holdings had a positive return on equity of 5.49% and a negative net margin of 0.01%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 earnings per share. Equities research analysts expect that Blackhawk Network Holdings will post $1.68 earnings per share for the current year.
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In other Blackhawk Network Holdings news, SVP David C. Tate sold 18,669 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $42.88, for a total value of $800,526.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jerry N. Ulrich sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $45.15, for a total value of $3,386,250.00. Following the completion of the sale, the chief financial officer now directly owns 63,280 shares of the company’s stock, valued at approximately $2,857,092. The disclosure for this sale can be found here. In the last three months, insiders sold 96,212 shares of company stock valued at $4,298,465. Corporate insiders own 3.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio boosted its holdings in Blackhawk Network Holdings by 38.9% in the second quarter. Strs Ohio now owns 2,500 shares of the credit services provider’s stock worth $109,000 after acquiring an additional 700 shares in the last quarter. Horrell Capital Management Inc. acquired a new stake in Blackhawk Network Holdings in the second quarter worth about $121,000. Ameritas Investment Partners Inc. acquired a new stake in Blackhawk Network Holdings in the first quarter worth about $193,000. Prudential Financial Inc. acquired a new stake in Blackhawk Network Holdings in the second quarter worth about $207,000. Finally, Campbell Newman Asset Management Inc. acquired a new stake in Blackhawk Network Holdings in the second quarter worth about $213,000. 95.77% of the stock is owned by institutional investors and hedge funds.
About Blackhawk Network Holdings
Blackhawk Network Holdings, Inc is a prepaid payment network. The Company operates through three segments: U.S. Retail, International, and Incentives & Rewards. The U.S. Retail segment is engaged in the sale of prepaid products to consumers at its retail distribution partners and online and the sale of telecom handsets to retail distribution partners for resale to consumers.
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