Blackhawk Network (HAWK) Downgraded by BidaskClub to “Sell”
Blackhawk Network (NASDAQ:HAWK) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
HAWK has been the subject of several other research reports. Zacks Investment Research lowered Blackhawk Network from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. BMO Capital Markets restated an “outperform” rating and issued a $52.00 price target (up previously from $50.00) on shares of Blackhawk Network in a research note on Tuesday, September 12th. SunTrust Banks set a $43.00 price target on Blackhawk Network and gave the company a “buy” rating in a research note on Thursday, October 12th. Bank of America cut their price target on Blackhawk Network from $50.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, October 12th. Finally, Deutsche Bank restated a “buy” rating and issued a $51.00 price target on shares of Blackhawk Network in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $47.62.
Blackhawk Network (HAWK) traded up $0.05 during midday trading on Thursday, hitting $34.80. The company’s stock had a trading volume of 1,192,118 shares, compared to its average volume of 669,151. The stock has a market cap of $1,980.00, a price-to-earnings ratio of 61.40, a P/E/G ratio of 5.62 and a beta of 0.48. Blackhawk Network has a twelve month low of $32.60 and a twelve month high of $46.70. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86.
Blackhawk Network (NASDAQ:HAWK) last released its quarterly earnings data on Wednesday, October 11th. The credit services provider reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.07. The business had revenue of $419.30 million during the quarter, compared to analyst estimates of $439.32 million. Blackhawk Network had a positive return on equity of 4.12% and a negative net margin of 0.14%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. sell-side analysts expect that Blackhawk Network will post 0.41 earnings per share for the current year.
Several institutional investors have recently modified their holdings of HAWK. Newbrook Capital Advisors LP acquired a new position in shares of Blackhawk Network during the 2nd quarter worth approximately $52,890,000. Castleark Management LLC acquired a new position in Blackhawk Network in the second quarter valued at approximately $14,290,000. Vivaldi Asset Management LLC acquired a new position in Blackhawk Network in the second quarter valued at approximately $10,271,000. Falcon Point Capital LLC lifted its holdings in Blackhawk Network by 78.0% in the second quarter. Falcon Point Capital LLC now owns 455,030 shares of the credit services provider’s stock valued at $19,839,000 after acquiring an additional 199,382 shares during the last quarter. Finally, Penn Capital Management Co. Inc. lifted its holdings in Blackhawk Network by 961.7% in the second quarter. Penn Capital Management Co. Inc. now owns 208,672 shares of the credit services provider’s stock valued at $9,213,000 after acquiring an additional 189,018 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.
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About Blackhawk Network
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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