Blackhawk Network Holdings Inc. (HAWK) Stock Rating Upgraded by Credit Agricole SA
Blackhawk Network Holdings Inc. (NASDAQ:HAWK) was upgraded by stock analysts at Credit Agricole SA from an “underperform” rating to an “outperform” rating in a research report issued on Wednesday. The firm currently has a $36.00 price objective on the stock, up from their previous price objective of $34.00. Credit Agricole SA’s price target indicates a potential upside of 16.62% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other equities analysts have also recently issued reports on HAWK. Bank of America Corp. restated a “hold” rating and issued a $36.00 price objective on shares of Blackhawk Network Holdings in a research note 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. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Blackhawk Network Holdings has an average rating of “Buy” and a consensus price target of $43.63.
Shares of Blackhawk Network Holdings (NASDAQ:HAWK) traded up 1.48% during mid-day trading on Wednesday, hitting $30.87. 1,114,141 shares of the stock were exchanged. Blackhawk Network Holdings has a 1-year low of $28.88 and a 1-year high of $48.40. The company’s 50-day moving average is $32.85 and its 200-day moving average is $33.45. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 76.41 and a beta of 0.64.
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Blackhawk Network Holdings (NASDAQ:HAWK) last announced its quarterly earnings data 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 net margin of 1.24% and a return on equity of 15.40%. During the same period in the previous year, the business posted $0.38 earnings per share. Equities research analysts anticipate that Blackhawk Network Holdings will post $1.57 earnings per share for the current fiscal year.
In other Blackhawk Network Holdings news, Director Arun Sarin sold 25,000 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $35.92, for a total transaction of $898,000.00. Following the sale, the director now owns 40,529 shares of the company’s stock, valued at approximately $1,455,801.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.24% of the company’s stock.
A number of large investors have recently modified their holdings of HAWK. DekaBank Deutsche Girozentrale raised its stake in shares of Blackhawk Network Holdings by 37.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 3,333 shares of the company’s stock worth $109,000 after buying an additional 911 shares in the last quarter. US Bancorp DE raised its stake in shares of Blackhawk Network Holdings by 94.7% in the second quarter. US Bancorp DE now owns 5,800 shares of the company’s stock worth $194,000 after buying an additional 2,821 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Blackhawk Network Holdings by 23.4% in the first quarter. Envestnet Asset Management Inc. now owns 5,799 shares of the company’s stock worth $199,000 after buying an additional 1,101 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of Blackhawk Network Holdings by 22.6% in the second quarter. Penserra Capital Management LLC now owns 6,392 shares of the company’s stock worth $214,000 after buying an additional 1,178 shares in the last quarter. Finally, HBK Investments L P raised its stake in shares of Blackhawk Network Holdings by 10.3% in the first quarter. HBK Investments L P now owns 6,400 shares of the company’s stock worth $220,000 after buying an additional 600 shares in the last quarter. 91.35% of the stock is currently owned by hedge funds and other institutional investors.
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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