Zacks Investment Research downgraded shares of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) from a hold rating to a sell rating in a report issued on Thursday.
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. “
Other equities research analysts have also recently issued reports about the company. BidaskClub cut Blackhawk Network Holdings from a buy rating to a hold rating in a research note on Wednesday, June 21st. Argus lowered their price target on Blackhawk Network Holdings from $50.00 to $45.00 and set a buy rating on the stock in a report on Tuesday. Jefferies Group LLC reaffirmed a buy rating and set a $53.00 price target (up from $49.00) on shares of Blackhawk Network Holdings in a report on Monday, July 24th. Raymond James Financial, Inc. reaffirmed a market perform rating on shares of Blackhawk Network Holdings in a report on Thursday, October 12th. Finally, BMO Capital Markets lowered their price target on Blackhawk Network Holdings from $52.00 to $51.00 and set an outperform rating on the stock in a report on Friday, October 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. Blackhawk Network Holdings has a consensus rating of Hold and a consensus price target of $47.23.
Shares of Blackhawk Network Holdings (NASDAQ:HAWK) traded up 2.78% during trading on Thursday, reaching $35.15. The company’s stock had a trading volume of 1,676,415 shares. Blackhawk Network Holdings has a one year low of $32.60 and a one year high of $46.70. The firm’s market cap is $1.99 billion. The stock’s 50 day moving average is $42.44 and its 200 day moving average is $42.42.
Blackhawk Network Holdings (NASDAQ:HAWK) last released its earnings results on Wednesday, October 11th. The credit services provider reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. Blackhawk Network Holdings had a positive return on equity of 4.12% and a negative net margin of 0.14%. The firm had revenue of $419.30 million for the quarter, compared to analysts’ expectations of $439.32 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The company’s quarterly revenue was up 16.0% on a year-over-year basis. On average, equities analysts forecast that Blackhawk Network Holdings will post $1.65 EPS for the current fiscal year.
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In other Blackhawk Network Holdings news, SVP David C. Tate sold 18,669 shares of the 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jerry N. Ulrich sold 75,000 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $45.15, for a total value of $3,386,250.00. Following the completion of the transaction, the chief financial officer now directly owns 63,280 shares in the company, 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 worth $4,298,465. 3.80% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Strs Ohio lifted 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 valued at $109,000 after acquiring an additional 700 shares during the period. Horrell Capital Management Inc. bought a new position in Blackhawk Network Holdings in the second quarter valued at about $121,000. Prudential Financial Inc. bought a new position in Blackhawk Network Holdings in the second quarter valued at about $207,000. Campbell Newman Asset Management Inc. bought a new position in Blackhawk Network Holdings in the second quarter valued at about $213,000. Finally, ING Groep NV bought a new position in Blackhawk Network Holdings in the second quarter valued at about $218,000. 95.33% 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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