Zacks Investment Research downgraded shares of Blackhawk Network Holdings Inc. (NASDAQ:HAWK) from a buy rating to a hold rating in a report published on Wednesday.

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. “

Analyst Recommendations for Blackhawk Network Holdings (NASDAQ:HAWK)

Several other brokerages have also issued reports on HAWK. Bank of America Corp. raised Blackhawk Network Holdings from a neutral rating to a buy rating and set a $41.00 target price for the company in a research report on Friday, July 22nd. Credit Agricole SA raised Blackhawk Network Holdings from an underperform rating to an outperform rating and lifted their target price for the company from $34.00 to $36.00 in a research report on Wednesday. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Blackhawk Network Holdings currently has an average rating of Buy and an average target price of $43.63.

Shares of Blackhawk Network Holdings (NASDAQ:HAWK) opened at 30.87 on Wednesday. Blackhawk Network Holdings has a 1-year low of $28.88 and a 1-year high of $48.40. The company’s 50-day moving average is $32.76 and its 200-day moving average is $33.43. The stock has a market cap of $1.74 billion, a P/E ratio of 76.41 and a beta of 0.64.

Blackhawk Network Holdings (NASDAQ:HAWK) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.13. Blackhawk Network Holdings had a net margin of 1.24% and a return on equity of 15.40%. During the same period last year, the company posted $0.38 EPS. Equities analysts expect that Blackhawk Network Holdings will post $1.57 EPS for the current fiscal year.

In related news, Director Arun Sarin sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $35.92, for a total transaction of $898,000.00. Following the completion of the sale, the director now owns 40,529 shares in the company, valued at $1,455,801.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.24% of the company’s stock.

Large investors have recently bought and sold shares of the company. Standard Life Investments LTD boosted its stake in Blackhawk Network Holdings by 85.7% in the second quarter. Standard Life Investments LTD now owns 4,800,778 shares of the company’s stock valued at $160,874,000 after buying an additional 2,214,977 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Blackhawk Network Holdings during the second quarter worth $21,668,000. Bloom Tree Partners LLC boosted its stake in shares of Blackhawk Network Holdings by 38.4% in the first quarter. Bloom Tree Partners LLC now owns 1,721,218 shares of the company’s stock worth $59,038,000 after buying an additional 477,889 shares in the last quarter. Norges Bank purchased a new stake in shares of Blackhawk Network Holdings during the fourth quarter worth $20,125,000. Finally, Royal Bank of Canada boosted its stake in shares of Blackhawk Network Holdings by 1,986.0% in the second quarter. Royal Bank of Canada now owns 470,984 shares of the company’s stock worth $15,773,000 after buying an additional 448,406 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Blackhawk Network Holdings Company Profile

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.

5 Day Chart for NASDAQ:HAWK

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