Blackhawk Network Holdings, Inc. (HAWK) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) from a sell rating to a hold rating in a research note published on Wednesday morning.
According to Zacks, “Blackhawk Network Holdings, Inc. is a provider of prepaid and financial payments products for consumers and businesses. The company distributes gift cards, prepaid handsets and prepaid financial services products. Blackhawk Network Holdings, Inc. is headquartered in Pleasanton, California. “
Several other brokerages have also weighed in on HAWK. Bank of America Corporation increased their price objective on shares of Blackhawk Network Holdings from $44.00 to $49.00 and gave the company a neutral rating in a research report on Thursday, July 20th. Mizuho reissued a buy rating and issued a $52.00 price objective (up from $50.00) on shares of Blackhawk Network Holdings in a research report on Saturday, July 22nd. Craig Hallum reissued a buy rating and issued a $58.00 price objective on shares of Blackhawk Network Holdings in a research report on Friday, September 1st. BidaskClub raised shares of Blackhawk Network Holdings from a hold rating to a buy rating in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC reissued a buy rating and issued a $53.00 price objective (up from $49.00) on shares of Blackhawk Network Holdings in a research report on Monday, July 24th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Blackhawk Network Holdings currently has an average rating of Buy and an average target price of $47.62.
Blackhawk Network Holdings (NASDAQ:HAWK) opened at $35.05 on Wednesday. The firm has a market cap of $1,991.30, a PE ratio of 61.49, a PEG ratio of 5.63 and a beta of 0.45. Blackhawk Network Holdings has a 1 year low of $32.60 and a 1 year high of $46.70. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86.
Blackhawk Network Holdings (NASDAQ:HAWK) last issued its quarterly earnings data on Wednesday, October 11th. The credit services provider reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The company had revenue of $419.30 million for the quarter, compared to analyst estimates of $439.32 million. Blackhawk Network Holdings had a negative net margin of 0.14% and a positive return on equity of 4.12%. The company’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 earnings per share. sell-side analysts predict that Blackhawk Network Holdings will post 0.41 EPS for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio grew its stake in shares of Blackhawk Network Holdings by 38.9% in the second quarter. Strs Ohio now owns 2,500 shares of the credit services provider’s stock valued at $109,000 after acquiring an additional 700 shares in the last quarter. Horrell Capital Management Inc. acquired a new stake in Blackhawk Network Holdings during the second quarter worth about $121,000. Aperio Group LLC acquired a new stake in Blackhawk Network Holdings during the third quarter worth about $205,000. Prudential Financial Inc. acquired a new stake in Blackhawk Network Holdings during the second quarter worth about $207,000. Finally, Campbell Newman Asset Management Inc. acquired a new stake in Blackhawk Network Holdings during the second quarter worth about $213,000. Institutional investors and hedge funds own 95.62% 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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