Blackhawk Network Holdings, Inc. (HAWK) Raised to Hold at BidaskClub
BidaskClub upgraded shares of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) from a sell rating to a hold rating in a research report released on Thursday morning.
HAWK has been the subject of several other reports. Deutsche Bank AG boosted their target price on Blackhawk Network Holdings from $41.00 to $46.00 and gave the company a buy rating in a report on Friday, April 28th. Mizuho started coverage on Blackhawk Network Holdings in a report on Tuesday, June 27th. They issued a buy rating and a $50.00 target price for the company. Citigroup Inc. reissued a buy rating and issued a $47.00 target price on shares of Blackhawk Network Holdings in a report on Monday, July 17th. Zacks Investment Research raised Blackhawk Network Holdings from a sell rating to a hold rating in a report on Wednesday, April 19th. Finally, TheStreet downgraded Blackhawk Network Holdings from a b- rating to a c rating in a report on Tuesday, June 20th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $45.14.
Shares of Blackhawk Network Holdings (NASDAQ HAWK) traded up 0.71% on Thursday, hitting $42.70. The stock had a trading volume of 434,026 shares. The stock has a 50 day moving average price of $43.41 and a 200-day moving average price of $40.74. Blackhawk Network Holdings has a 12-month low of $28.88 and a 12-month high of $46.70. The company’s market cap is $2.42 billion.
Blackhawk Network Holdings (NASDAQ:HAWK) last posted its earnings results on Wednesday, July 19th. The credit services provider reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.07. Blackhawk Network Holdings had a positive return on equity of 5.49% and a negative net margin of 0.01%. The business had revenue of $463.10 million during the quarter, compared to the consensus estimate of $447.43 million. During the same period in the previous year, the business earned $0.13 EPS. The business’s quarterly revenue was up 18.4% on a year-over-year basis. On average, equities analysts expect that Blackhawk Network Holdings will post $1.68 earnings per share for the current year.
In other Blackhawk Network Holdings news, CFO Jerry N. Ulrich sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $45.15, for a total transaction of $3,386,250.00. Following the transaction, the chief financial officer now owns 63,280 shares in the company, valued at approximately $2,857,092. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joan B. Lockie sold 2,543 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $43.92, for a total value of $111,688.56. Following the transaction, the insider now owns 17,168 shares in the company, valued at approximately $754,018.56. The disclosure for this sale can be found here. Insiders have sold a total of 96,212 shares of company stock worth $4,298,465 in the last quarter. 3.80% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Blackhawk Network Holdings by 71,649.0% in the first quarter. BlackRock Inc. now owns 3,416,688 shares of the credit services provider’s stock valued at $138,718,000 after buying an additional 3,411,926 shares during the last quarter. Jana Partners LLC acquired a new position in Blackhawk Network Holdings during the first quarter valued at about $109,418,000. Newbrook Capital Advisors LP acquired a new position in Blackhawk Network Holdings during the second quarter valued at about $52,890,000. FIL Ltd acquired a new position in Blackhawk Network Holdings during the first quarter valued at about $20,092,000. Finally, Castleark Management LLC acquired a new position in Blackhawk Network Holdings during the second quarter valued at about $14,290,000. Institutional investors own 98.69% of the company’s stock.
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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