Blackhawk Network (HAWK) Trading Up 23.4% on Analyst Upgrade

Shares of Blackhawk Network Holdings Inc (NASDAQ:HAWK) were up 23.4% on Wednesday after Credit Suisse Group raised their price target on the stock from $40.00 to $45.00. Credit Suisse Group currently has a neutral rating on the stock. Blackhawk Network traded as high as $45.10 and last traded at $45.05. Approximately 31,950,000 shares traded hands during trading, an increase of 646% from the average daily volume of 4,280,120 shares. The stock had previously closed at $36.50.

A number of other analysts also recently weighed in on the company. Zacks Investment Research downgraded Blackhawk Network from a “hold” rating to a “sell” rating in a research report on Thursday, October 19th. BidaskClub downgraded Blackhawk Network from a “sell” rating to a “strong sell” rating in a research report on Friday, December 22nd. UBS Group downgraded Blackhawk Network from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 12th. Bank of America dropped their price objective on Blackhawk Network from $50.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, October 12th. Finally, Deutsche Bank restated a “buy” rating and set a $51.00 price objective on shares of Blackhawk Network in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $47.92.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Blackhawk Network by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,523,748 shares of the credit services provider’s stock worth $197,236,000 after purchasing an additional 105,653 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Blackhawk Network by 2.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,751,904 shares of the credit services provider’s stock worth $76,733,000 after purchasing an additional 40,322 shares in the last quarter. Newbrook Capital Advisors LP acquired a new position in Blackhawk Network in the 2nd quarter worth about $52,890,000. State Street Corp increased its holdings in Blackhawk Network by 6.7% in the 2nd quarter. State Street Corp now owns 1,094,994 shares of the credit services provider’s stock worth $47,740,000 after purchasing an additional 68,362 shares in the last quarter. Finally, Elk Creek Partners LLC increased its holdings in Blackhawk Network by 3.4% in the 3rd quarter. Elk Creek Partners LLC now owns 771,162 shares of the credit services provider’s stock worth $33,777,000 after purchasing an additional 25,156 shares in the last quarter. 96.68% of the stock is owned by institutional investors and hedge funds.

The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $2,570.00, a price-to-earnings ratio of -501.67, a PEG ratio of 5.11 and a beta of 0.48.

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Blackhawk Network Company Profile

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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