Wedbush Reiterates “Neutral” Rating for Blackhawk Network Holdings Inc. (HAWK)
Blackhawk Network Holdings Inc. (NASDAQ:HAWK)‘s stock had its “neutral” rating reaffirmed by research analysts at Wedbush in a report released on Saturday. They currently have a $30.00 target price on the stock. Wedbush’s price objective would indicate a potential downside of 12.52% from the stock’s previous close.
Several other analysts also recently commented on HAWK. Bank of America Corp. reiterated a “hold” rating and issued a $36.00 price target on shares of Blackhawk Network Holdings in a research report on Wednesday, July 20th. Zacks Investment Research cut shares of Blackhawk Network Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 20th. Credit Agricole SA raised shares of Blackhawk Network Holdings from an “underperform” rating to an “outperform” rating and boosted their price objective for the company from $34.00 to $36.00 in a research note on Wednesday, September 21st. They noted that the move was a valuation call. Finally, Jefferies Group reissued a “buy” rating and issued a $43.00 price objective on shares of Blackhawk Network Holdings in a research note on Monday, October 10th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Blackhawk Network Holdings currently has an average rating of “Buy” and a consensus price target of $42.75.
Blackhawk Network Holdings (NASDAQ:HAWK) traded up 1.84% during mid-day trading on Friday, reaching $34.30. 1,581,804 shares of the company traded hands. Blackhawk Network Holdings has a 52 week low of $28.88 and a 52 week high of $48.40. The stock’s 50 day moving average price is $31.87 and its 200 day moving average price is $33.17. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 84.90 and a beta of 0.67.
Blackhawk Network Holdings (NASDAQ:HAWK) last released its quarterly earnings results on Tuesday, October 11th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.10 by $0.04. Blackhawk Network Holdings had a net margin of 1.15% and a return on equity of 13.38%. The firm earned $361.60 million during the quarter. During the same quarter last year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts forecast that Blackhawk Network Holdings will post $1.57 EPS for the current year.
In related news, Director Arun Sarin sold 25,000 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $35.92, for a total value of $898,000.00. Following the sale, the director now directly owns 40,529 shares in the company, valued at approximately $1,455,801.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.24% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Standard Life Investments LTD raised 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 in the last quarter. Franklin Resources Inc. acquired a new stake in Blackhawk Network Holdings during the second quarter valued at approximately $21,668,000. Bloom Tree Partners LLC raised 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. Royal Bank of Canada raised its stake in 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 valued at $15,773,000 after buying an additional 448,406 shares in the last quarter. Finally, Renaissance Technologies LLC raised 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. Institutional investors and hedge funds own 91.35% of the company’s stock.
About Blackhawk Network Holdings
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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