Blackhawk Network Holdings Inc. (HAWK) Downgraded by Zacks Investment Research to “Strong Sell”
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. “
A number of other equities analysts also recently issued reports on the stock. Bank of America Corp. downgraded shares of Blackhawk Network Holdings from a buy rating to a neutral rating and cut their price target for the company from $41.00 to $34.00 in a report on Friday, October 7th. Jefferies Group reiterated a buy rating and issued a $43.00 price target on shares of Blackhawk Network Holdings in a report on Monday, October 10th. Wedbush reiterated a neutral rating and issued a $30.00 price target on shares of Blackhawk Network Holdings in a report on Saturday. Finally, Credit Agricole SA upgraded shares of Blackhawk Network Holdings from an underperform rating to an outperform rating and increased their price target for the company from $34.00 to $36.00 in a report on Wednesday, September 21st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $42.75.
Blackhawk Network Holdings (NASDAQ:HAWK) opened at 36.00 on Tuesday. The firm has a 50-day moving average of $31.95 and a 200 day moving average of $33.16. Blackhawk Network Holdings has a 12-month low of $28.88 and a 12-month high of $48.40. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 89.11 and a beta of 0.67.
Blackhawk Network Holdings (NASDAQ:HAWK) last announced its quarterly earnings results on Tuesday, October 11th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.04. The business earned $361.60 million during the quarter. Blackhawk Network Holdings had a net margin of 1.15% and a return on equity of 13.38%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. On average, equities analysts predict that Blackhawk Network Holdings will post $1.57 EPS for the current year.
In other news, Director Arun Sarin sold 25,000 shares of Blackhawk Network Holdings stock in a transaction dated Thursday, July 28th. The shares were 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 directly owns 40,529 shares in the company, valued at $1,455,801.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.24% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Bloom Tree Partners LLC boosted its stake in 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 valued at $59,038,000 after buying an additional 477,889 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Blackhawk Network Holdings by 128.7% in the first quarter. Renaissance Technologies LLC now owns 760,063 shares of the company’s stock valued at $26,070,000 after buying an additional 427,700 shares in the last quarter. HBK Investments L P boosted its stake 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 valued at $220,000 after buying an additional 600 shares in the last quarter. Geode Capital Management LLC boosted its stake in Blackhawk Network Holdings by 7.1% in the first quarter. Geode Capital Management LLC now owns 379,461 shares of the company’s stock valued at $13,015,000 after buying an additional 25,117 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in Blackhawk Network Holdings by 23.5% in the first quarter. Loomis Sayles & Co. L P now owns 557,605 shares of the company’s stock valued at $19,126,000 after buying an additional 106,120 shares in the last quarter. 91.34% of the stock is currently owned by institutional investors and hedge funds.
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.
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