Blackhawk Network Holdings Inc. (NASDAQ:HAWK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $34.00 price target on the stock. Zacks Investment Research’s price target suggests a potential upside of 11.77% from the stock’s current price.

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. “

Separately, Bank of America Corp. upgraded Blackhawk Network Holdings from a “neutral” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Friday, July 22nd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Blackhawk Network Holdings currently has a consensus rating of “Buy” and an average target price of $44.71.

Analyst Recommendations for Blackhawk Network Holdings (NASDAQ:HAWK)

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Shares of Blackhawk Network Holdings (NASDAQ:HAWK) traded up 4.75% during midday trading on Tuesday, hitting $30.42. The company had a trading volume of 1,127,171 shares. The company has a market capitalization of $1.71 billion, a P/E ratio of 75.30 and a beta of 0.64. The firm’s 50 day moving average is $32.85 and its 200 day moving average is $33.45. Blackhawk Network Holdings has a 52 week low of $28.88 and a 52 week high of $48.40.

Blackhawk Network Holdings (NASDAQ:HAWK) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.13. Blackhawk Network Holdings had a return on equity of 15.40% and a net margin of 1.24%. During the same quarter in the prior year, the firm posted $0.38 EPS. Equities research analysts anticipate that Blackhawk Network Holdings will post $1.57 EPS for the current year.

In other Blackhawk Network Holdings news, Director Arun Sarin sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $35.92, for a total transaction of $898,000.00. Following the transaction, the director now owns 40,529 shares in the company, valued at approximately $1,455,801.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.24% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of HAWK. Standard Life Investments LTD increased its position 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 worth $160,874,000 after buying an additional 2,214,977 shares during the period. Franklin Resources Inc. bought a new stake in shares of Blackhawk Network Holdings during the second quarter worth approximately $21,668,000. Bloom Tree Partners LLC boosted its stake in shares of 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 worth $59,038,000 after buying an additional 477,889 shares in the last quarter. Norges Bank bought a new stake in shares of Blackhawk Network Holdings during the fourth quarter worth approximately $20,125,000. Finally, Royal Bank of Canada boosted its stake in shares of 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 worth $15,773,000 after buying an additional 448,406 shares in the last quarter. Hedge funds and other institutional investors 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.

5 Day Chart for NASDAQ:HAWK

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