Blackhawk Network Holdings Inc. (NASDAQ:HAWK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $34.00 target price on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 11.77% from the company’s previous close.

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. reaffirmed a “hold” rating and set a $36.00 target price on shares of Blackhawk Network Holdings in a report on Wednesday, July 20th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $44.71.

Analyst Recommendations for Blackhawk Network Holdings (NASDAQ:HAWK)

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Blackhawk Network Holdings (NASDAQ:HAWK) traded up 4.75% during mid-day trading on Tuesday, hitting $30.42. The company had a trading volume of 1,127,171 shares. The stock’s 50 day moving average price is $32.85 and its 200 day moving average price is $33.45. The firm has a market cap of $1.71 billion, a P/E ratio of 75.30 and a beta of 0.64. 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 issued its quarterly earnings results on Tuesday, July 19th. The company reported $0.37 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 period in the prior year, the company earned $0.38 earnings per share. On average, equities research analysts predict that Blackhawk Network Holdings will post $1.57 EPS for the current fiscal year.

In other news, Director Arun Sarin sold 25,000 shares of the 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 sale, the director now directly owns 40,529 shares in the company, valued at approximately $1,455,801.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.24% of the company’s stock.

Several hedge funds have recently made changes to their positions in HAWK. Standard Life Investments LTD boosted its stake in shares of 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 last quarter. Franklin Resources Inc. bought a new stake in shares of Blackhawk Network Holdings during the second quarter worth $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 during the last quarter. Norges Bank bought a new stake in shares of Blackhawk Network Holdings during the fourth quarter worth $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 during 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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