Blackhawk Network Holdings Inc. (HAWK) Lifted to “Strong-Buy” at Zacks Investment Research

Blackhawk Network Holdings Inc. (NASDAQ:HAWK) was upgraded by Zacks Investment Research from a “sell” rating to a “strong-buy” rating in a research note issued on Wednesday. The brokerage currently has a $41.00 target price on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 13.92% from the company’s previous close.

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 issued reports about the stock. Wedbush reiterated a “neutral” rating and issued a $30.00 price objective (down from $33.00) on shares of Blackhawk Network Holdings in a research report on Thursday, April 28th. Bank of America Corp. upgraded shares of Blackhawk Network Holdings from a “neutral” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Friday, July 22nd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $46.25.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System raised its position in Blackhawk Network Holdings by 0.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 27,043 shares of the company’s stock worth $1,196,000 after buying an additional 96 shares during the period. First Trust Advisors LP increased its position in Blackhawk Network Holdings by 0.3% in the fourth quarter. First Trust Advisors LP now owns 39,596 shares of the company’s stock worth $1,751,000 after buying an additional 109 shares in the last quarter. LaSalle Street Capital Management LLC increased its position in Blackhawk Network Holdings by 1.8% in the second quarter. LaSalle Street Capital Management LLC now owns 9,890 shares of the company’s stock worth $331,000 after buying an additional 171 shares in the last quarter. HBK Investments L P increased its position in Blackhawk Network Holdings by 10.3% in the first quarter. HBK Investments L P now owns 6,400 shares of the company’s stock worth $220,000 after buying an additional 600 shares in the last quarter. Finally, Nationwide Fund Advisors increased its position in Blackhawk Network Holdings by 2.0% in the fourth quarter. Nationwide Fund Advisors now owns 35,693 shares of the company’s stock worth $1,578,000 after buying an additional 717 shares in the last quarter.

Shares of Blackhawk Network Holdings (NASDAQ:HAWK) traded down 2.83% during midday trading on Wednesday, hitting $35.99. 1,134,025 shares of the company’s stock were exchanged. The firm has a market cap of $2.02 billion and a PE ratio of 88.21. The stock’s 50-day moving average price is $33.73 and its 200 day moving average price is $34.52. Blackhawk Network Holdings has a one year low of $29.91 and a one year high of $48.40.

Blackhawk Network Holdings (NASDAQ:HAWK) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.13. During the same quarter last year, the firm earned $0.38 EPS. Equities research analysts forecast that Blackhawk Network Holdings will post $1.57 EPS for the current year.

Blackhawk Network Holdings, Inc is a prepaid payment network. The Company offers a range of prepaid gift, telecom and debit cards, in physical and electronic forms, as well as related prepaid products and payment services. The Company’s segments are US Retail, International Retail and Incentives & Rewards.