BMO Capital Markets reaffirmed their outperform rating on shares of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) in a research report report published on Tuesday morning. The brokerage currently has a $52.00 price objective on the credit services provider’s stock, up from their prior price objective of $50.00.
Other equities analysts also recently issued reports about the company. Mizuho reiterated a buy rating and set a $52.00 price objective (up from $50.00) on shares of Blackhawk Network Holdings in a research report on Saturday, July 22nd. Citigroup Inc. upgraded Blackhawk Network Holdings from a neutral rating to a buy rating and boosted their price objective for the stock from $39.00 to $47.00 in a research report on Friday, May 19th. BidaskClub upgraded Blackhawk Network Holdings from a hold rating to a buy rating in a research report on Thursday, June 29th. Jefferies Group LLC reiterated a buy rating and set a $53.00 price objective (up from $49.00) on shares of Blackhawk Network Holdings in a research report on Monday, July 24th. Finally, Craig Hallum reiterated a buy rating and set a $58.00 price objective on shares of Blackhawk Network Holdings in a research report on Friday, September 1st. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Blackhawk Network Holdings has a consensus rating of Buy and a consensus target price of $45.86.
Shares of Blackhawk Network Holdings (HAWK) traded down 1.45% during trading on Tuesday, hitting $44.20. The stock had a trading volume of 180,865 shares. The firm’s market cap is $2.50 billion. Blackhawk Network Holdings has a one year low of $28.88 and a one year high of $46.70. The firm’s 50-day moving average is $43.56 and its 200-day moving average is $41.68.
Blackhawk Network Holdings (NASDAQ:HAWK) last issued its quarterly earnings data on Wednesday, July 19th. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.07. The business had revenue of $463.10 million during the quarter, compared to the consensus estimate 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 was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 earnings per share. Equities research analysts forecast that Blackhawk Network Holdings will post $1.68 EPS for the current year.
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In other Blackhawk Network Holdings news, CFO Jerry N. Ulrich sold 75,000 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 63,280 shares of the company’s stock, valued at $2,857,092. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP David C. Tate sold 18,669 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $42.88, for a total value of $800,526.72. The disclosure for this sale can be found here. Insiders sold 96,212 shares of company stock worth $4,298,465 in the last ninety days. 3.80% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of HAWK. BlackRock Inc. increased its holdings in shares of 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 in the last quarter. Jana Partners LLC bought a new position in shares of Blackhawk Network Holdings in the first quarter valued at $109,418,000. Newbrook Capital Advisors LP bought a new position in shares of Blackhawk Network Holdings in the second quarter valued at $52,890,000. FIL Ltd bought a new position in shares of Blackhawk Network Holdings in the first quarter valued at $20,092,000. Finally, Castleark Management LLC bought a new position in shares of Blackhawk Network Holdings in the second quarter valued at $14,290,000. 95.77% of the stock is currently owned by institutional investors.
Blackhawk Network Holdings 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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