Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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. “

A number of other brokerages have also recently commented on HAWK. BMO Capital Markets reiterated an “outperform” rating and issued a $52.00 price target (up previously from $50.00) on shares of Blackhawk Network Holdings in a research note on Tuesday, September 12th. Citigroup Inc. reiterated a “buy” rating and issued a $47.00 price target on shares of Blackhawk Network Holdings in a research note on Monday, July 17th. Craig Hallum reiterated a “buy” rating and issued a $58.00 price target on shares of Blackhawk Network Holdings in a research note on Friday, September 1st. BidaskClub upgraded shares of Blackhawk Network Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Bank of America Corporation increased their price target on shares of Blackhawk Network Holdings from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 20th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Blackhawk Network Holdings currently has a consensus rating of “Buy” and a consensus price target of $46.62.

Blackhawk Network Holdings (HAWK) opened at 42.85 on Wednesday. The firm’s market cap is $2.43 billion. Blackhawk Network Holdings has a 52-week low of $29.61 and a 52-week high of $46.70. The firm’s 50-day moving average is $43.58 and its 200-day moving average is $41.91.

Blackhawk Network Holdings (NASDAQ:HAWK) last announced its quarterly earnings results on Wednesday, July 19th. The credit services provider reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The firm had revenue of $463.10 million during the quarter, compared to analysts’ expectations of $447.43 million. Blackhawk Network Holdings had a negative net margin of 0.01% and a positive return on equity of 5.49%. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 earnings per share. Analysts forecast that Blackhawk Network Holdings will post $1.68 EPS for the current fiscal year.

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In other news, SVP David C. Tate sold 18,669 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $42.88, for a total transaction of $800,526.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joan B. Lockie sold 2,543 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $43.92, for a total transaction of $111,688.56. Following the sale, the insider now owns 17,168 shares of the company’s stock, valued at approximately $754,018.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,212 shares of company stock valued at $4,298,465. 3.80% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of HAWK. Strs Ohio raised its stake in Blackhawk Network Holdings by 38.9% in the 2nd quarter. Strs Ohio now owns 2,500 shares of the credit services provider’s stock worth $109,000 after purchasing an additional 700 shares in the last quarter. Horrell Capital Management Inc. acquired a new stake in Blackhawk Network Holdings in the 2nd quarter worth about $121,000. Ameritas Investment Partners Inc. acquired a new stake in Blackhawk Network Holdings in the 1st quarter worth about $193,000. Turner Investments LLC acquired a new stake in Blackhawk Network Holdings in the 1st quarter worth about $203,000. Finally, Harbor Advisors LLC acquired a new stake in Blackhawk Network Holdings in the 1st quarter worth about $203,000. Institutional investors own 95.31% of the company’s stock.

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.

Analyst Recommendations for Blackhawk Network Holdings (NASDAQ:HAWK)

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