Blackhawk Network Holdings’ (HAWK) Buy Rating Reiterated at Jefferies Group
Blackhawk Network Holdings Inc. (NASDAQ:HAWK)‘s stock had its “buy” rating reaffirmed by investment analysts at Jefferies Group in a report released on Monday. They currently have a $43.00 price objective on the stock. Jefferies Group’s price objective points to a potential upside of 33.75% from the company’s previous close.
Other research analysts also recently issued research reports about the company. Bank of America Corp. upgraded Blackhawk Network Holdings from a “neutral” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Friday, July 22nd. Zacks Investment Research upgraded Blackhawk Network Holdings from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Tuesday, September 20th. Finally, Credit Agricole SA upgraded Blackhawk Network Holdings from an “underperform” rating to an “outperform” rating and boosted their target price for the company from $34.00 to $36.00 in a research note on Wednesday, September 21st. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $42.75.
Blackhawk Network Holdings (NASDAQ:HAWK) traded up 1.35% during mid-day trading on Monday, hitting $32.26. The company had a trading volume of 585,518 shares. The company’s 50 day moving average price is $31.82 and its 200-day moving average price is $33.17. Blackhawk Network Holdings has a one year low of $28.88 and a one year high of $48.40. The company has a market cap of $1.82 billion, a PE ratio of 79.85 and a beta of 0.67.
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Blackhawk Network Holdings (NASDAQ:HAWK) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $0.37 earnings per share 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 business earned $0.38 EPS. Equities research analysts anticipate that Blackhawk Network Holdings will post $1.57 EPS for the current fiscal year.
In related news, Director Arun Sarin sold 25,000 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $35.92, for a total transaction of $898,000.00. Following the completion of the transaction, the director now owns 40,529 shares of the company’s stock, valued at approximately $1,455,801.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.24% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Standard Life Investments LTD boosted 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 valued at $160,874,000 after buying an additional 2,214,977 shares in the last quarter. Franklin Resources Inc. acquired a new position in Blackhawk Network Holdings during the second quarter valued at $21,668,000. Bloom Tree Partners LLC boosted its position in 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 valued at $59,038,000 after buying an additional 477,889 shares in the last quarter. Royal Bank of Canada boosted its position 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 valued at $15,773,000 after buying an additional 448,406 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Blackhawk Network Holdings by 128.7% in the first quarter. Renaissance Technologies LLC now owns 760,063 shares of the company’s stock valued at $26,070,000 after buying an additional 427,700 shares in the last quarter. 91.35% of the stock is owned by institutional investors and hedge funds.
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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