Blackhawk Network Holdings, Inc. (NASDAQ:HAWK)‘s stock had its “outperform” rating reissued by analysts at BMO Capital Markets in a research report issued on Tuesday, September 12th. They currently have a $52.00 price objective on the credit services provider’s stock, up from their previous price objective of $50.00. BMO Capital Markets’ target price suggests a potential upside of 19.95% from the stock’s current price.
Several other brokerages have also issued reports on HAWK. Bank of America Corporation boosted their price target on Blackhawk Network Holdings from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 20th. Zacks Investment Research upgraded Blackhawk Network Holdings from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective for the company in a report on Tuesday, July 25th. Mizuho restated a “buy” rating and set a $52.00 price objective (up previously from $50.00) on shares of Blackhawk Network Holdings in a report on Saturday, July 22nd. Craig Hallum restated a “buy” rating and set a $58.00 price objective on shares of Blackhawk Network Holdings in a report on Friday, September 1st. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $53.00 price target (up previously from $49.00) on shares of Blackhawk Network Holdings in a report on Monday, July 24th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $46.62.
Shares of Blackhawk Network Holdings (NASDAQ:HAWK) opened at 43.35 on Tuesday. Blackhawk Network Holdings has a 12 month low of $29.61 and a 12 month high of $46.70. The company’s market capitalization is $2.46 billion. The company has a 50-day moving average of $43.58 and a 200 day moving average of $41.91.
Blackhawk Network Holdings (NASDAQ:HAWK) last issued its quarterly earnings results on Wednesday, July 19th. The credit services provider reported $0.12 earnings per share (EPS) 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 firm had revenue of $463.10 million for the quarter, compared to analyst estimates of $447.43 million. During the same period in the previous year, the firm earned $0.13 earnings per share. The company’s revenue was up 18.4% compared to the same quarter last year. Analysts forecast that Blackhawk Network Holdings will post $1.68 EPS for the current year.
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In other 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 transaction of $3,386,250.00. Following the transaction, the chief financial officer now owns 63,280 shares of the company’s stock, valued at approximately $2,857,092. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 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 ninety days. Insiders own 3.80% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new stake in Blackhawk Network Holdings during the 2nd quarter worth about $1,070,000. Castleark Management LLC purchased a new stake in Blackhawk Network Holdings during the 2nd quarter worth about $14,290,000. Nomura Holdings Inc. lifted its holdings in Blackhawk Network Holdings by 2.7% during the 2nd quarter. Nomura Holdings Inc. now owns 103,480 shares of the credit services provider’s stock worth $4,502,000 after purchasing an additional 2,754 shares in the last quarter. Argent Capital Management LLC purchased a new stake in Blackhawk Network Holdings during the 2nd quarter worth about $1,603,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in Blackhawk Network Holdings by 270.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 9,639 shares of the credit services provider’s stock worth $420,000 after purchasing an additional 7,039 shares in the last quarter. 95.31% of the stock is currently owned by institutional investors and hedge funds.
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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