Argus Trims Blackhawk Network Holdings, Inc. (HAWK) Target Price to $45.00
Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) had its price objective reduced by Argus from $50.00 to $45.00 in a research note published on Tuesday morning. They currently have a buy rating on the credit services provider’s stock.
HAWK has been the topic of a number of other reports. Mizuho initiated coverage on shares of Blackhawk Network Holdings in a research report on Tuesday, June 27th. They issued a buy rating and a $50.00 target price on the stock. BidaskClub raised shares of Blackhawk Network Holdings from a sell rating to a hold rating in a research report on Thursday, August 17th. Citigroup Inc. reaffirmed a buy rating and issued a $47.00 target price on shares of Blackhawk Network Holdings in a research report on Monday, July 17th. Craig Hallum reaffirmed a buy rating and issued a $58.00 target price on shares of Blackhawk Network Holdings in a research report on Friday, September 1st. Finally, TheStreet downgraded shares of Blackhawk Network Holdings from a b- rating to a c rating in a research report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. Blackhawk Network Holdings currently has a consensus rating of Hold and a consensus target price of $47.23.
Blackhawk Network Holdings (HAWK) traded up 2.78% during midday trading on Tuesday, hitting $35.15. 1,676,415 shares of the stock traded hands. The company has a 50-day moving average price of $42.44 and a 200 day moving average price of $42.42. Blackhawk Network Holdings has a one year low of $32.60 and a one year high of $46.70. The stock’s market cap is $1.99 billion.
Blackhawk Network Holdings (NASDAQ:HAWK) last posted its earnings results on Wednesday, October 11th. The credit services provider reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.07. The firm had revenue of $419.30 million for the quarter, compared to the consensus estimate of $439.32 million. Blackhawk Network Holdings had a negative net margin of 0.14% and a positive return on equity of 4.12%. The company’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the firm posted $0.14 EPS. Equities research analysts anticipate that Blackhawk Network Holdings will post $1.65 earnings per share for the current year.
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In related news, SVP David C. Tate sold 18,669 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $42.88, for a total transaction of $800,526.72. The sale 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 stock in a transaction on 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 quarter, insiders have sold 96,212 shares of company stock valued at $4,298,465. 3.80% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Strs Ohio boosted its stake in Blackhawk Network Holdings by 38.9% during 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 during the period. Horrell Capital Management Inc. acquired a new stake in Blackhawk Network Holdings during the 2nd quarter worth $121,000. Prudential Financial Inc. acquired a new stake in Blackhawk Network Holdings during the 2nd quarter worth $207,000. Campbell Newman Asset Management Inc. acquired a new stake in Blackhawk Network Holdings during the 2nd quarter worth $213,000. Finally, ING Groep NV acquired a new stake in Blackhawk Network Holdings during the 2nd quarter worth $218,000. Hedge funds and other institutional investors own 95.33% of the company’s stock.
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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