Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to 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. “

Other research analysts have also issued reports about the company. Argus lowered their target price on Blackhawk Network Holdings from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. BidaskClub lowered Blackhawk Network Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and set a $53.00 target price (up from $49.00) on shares of Blackhawk Network Holdings in a research report on Monday, July 24th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Blackhawk Network Holdings in a research report on Thursday, October 12th. Finally, BMO Capital Markets lowered their target price on Blackhawk Network Holdings from $52.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, October 13th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Blackhawk Network Holdings has a consensus rating of “Buy” and an average price target of $47.23.

Blackhawk Network Holdings (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 Thomson Reuters’ consensus estimate of $0.11 by $0.07. Blackhawk Network Holdings had a positive return on equity of 4.12% and a negative net margin of 0.14%. The company had revenue of $419.30 million for the quarter, compared to the consensus estimate of $439.32 million. During the same quarter last year, the business posted $0.14 EPS. Blackhawk Network Holdings’s revenue for the quarter was up 16.0% on a year-over-year basis.

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Several institutional investors and hedge funds have recently modified their holdings of HAWK. Strs Ohio grew its stake in shares of Blackhawk Network Holdings by 38.9% in the 2nd quarter. Strs Ohio now owns 2,500 shares of the credit services provider’s stock valued at $109,000 after buying an additional 700 shares during the period. Horrell Capital Management Inc. acquired a new stake in shares of Blackhawk Network Holdings in the 2nd quarter valued at about $121,000. Aperio Group LLC acquired a new stake in shares of Blackhawk Network Holdings in the 3rd quarter valued at about $205,000. Prudential Financial Inc. acquired a new stake in shares of Blackhawk Network Holdings in the 2nd quarter valued at about $207,000. Finally, Campbell Newman Asset Management Inc. acquired a new stake in shares of Blackhawk Network Holdings in the 2nd quarter valued at about $213,000. Institutional investors own 95.62% 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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