Blackhawk Network Holdings Inc. (NASDAQ:HAWK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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. “

Several other research analysts have also commented on HAWK. Bank of America Corp. reaffirmed a “hold” rating and set a $36.00 price target on shares of Blackhawk Network Holdings in a research report on Wednesday, July 20th. Credit Agricole SA raised Blackhawk Network Holdings from an “underperform” rating to an “outperform” rating and lifted their price target for the stock from $34.00 to $36.00 in a research report on Wednesday. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $43.63.

Analyst Recommendations for Blackhawk Network Holdings (NASDAQ:HAWK)

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Shares of Blackhawk Network Holdings (NASDAQ:HAWK) traded up 1.48% on Wednesday, hitting $30.87. The stock had a trading volume of 1,114,141 shares. Blackhawk Network Holdings has a 12 month low of $28.88 and a 12 month high of $48.40. The stock has a market cap of $1.74 billion, a P/E ratio of 76.41 and a beta of 0.64. The firm has a 50 day moving average of $32.76 and a 200 day moving average of $33.43.

Blackhawk Network Holdings (NASDAQ:HAWK) last issued its earnings results on Tuesday, July 19th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate 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 last year, the firm posted $0.38 EPS. On average, equities analysts forecast that Blackhawk Network Holdings will post $1.57 earnings per share for the current fiscal year.

In related news, Director Arun Sarin sold 25,000 shares of Blackhawk Network Holdings stock in a transaction that occurred on Thursday, July 28th. The stock was 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 $1,455,801.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.24% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of HAWK. Royal Bank of Canada increased 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 worth $15,773,000 after buying an additional 448,406 shares during the period. Sterling Capital Management LLC acquired a new stake in Blackhawk Network Holdings during the second quarter worth $247,000. Lebenthal Holdings LLC increased its stake in Blackhawk Network Holdings by 25.2% in the second quarter. Lebenthal Holdings LLC now owns 50,049 shares of the company’s stock worth $1,676,000 after buying an additional 10,084 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Blackhawk Network Holdings by 8.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 199,360 shares of the company’s stock worth $6,677,000 after buying an additional 16,277 shares during the period. Finally, Mirador Capital Partners LP increased its stake in Blackhawk Network Holdings by 4.1% in the second quarter. Mirador Capital Partners LP now owns 30,172 shares of the company’s stock worth $1,024,000 after buying an additional 1,179 shares during the period. 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.

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