Blackhawk Network Holdings Inc. (HAWK) Earns “Buy” Rating from Jefferies Group
Blackhawk Network Holdings Inc. (NASDAQ:HAWK)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Group in a report issued on Monday. They presently have a $43.00 price objective on the stock. Jefferies Group’s price target suggests a potential upside of 33.75% from the company’s previous close.
Other analysts have also issued research reports about the stock. Bank of America Corp. raised shares of Blackhawk Network Holdings from a “neutral” rating to a “buy” rating and set a $41.00 target price for the company in a report on Friday, July 22nd. Zacks Investment Research raised shares of Blackhawk Network Holdings from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Tuesday, September 20th. Finally, Credit Agricole SA raised shares of Blackhawk Network Holdings from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $34.00 to $36.00 in a report 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 issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $42.75.
Blackhawk Network Holdings (NASDAQ:HAWK) traded up 1.10% during trading on Monday, hitting $32.18. 631,642 shares of the stock were exchanged. Blackhawk Network Holdings has a 12-month low of $28.88 and a 12-month high of $48.40. The stock has a 50 day moving average price of $31.82 and a 200-day moving average price of $33.17. The firm has a market capitalization of $1.81 billion, a PE ratio of 79.65 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 net margin of 1.24% and a return on equity of 15.40%. During the same period last year, the company earned $0.38 earnings per share. On average, equities research analysts anticipate 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 the business’s stock in a transaction on Thursday, July 28th. The shares were 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 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 at this hyperlink. 3.24% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA boosted its stake in Blackhawk Network Holdings by 113.6% in the third quarter. BNP Paribas Arbitrage SA now owns 4,645 shares of the company’s stock valued at $140,000 after buying an additional 2,470 shares in the last quarter. Royal Bank of Canada boosted 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 valued at $15,773,000 after buying an additional 448,406 shares in the last quarter. Sterling Capital Management LLC bought a new stake in Blackhawk Network Holdings during the second quarter valued at approximately $247,000. Lebenthal Holdings LLC boosted 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 valued at $1,676,000 after buying an additional 10,084 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted 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 valued at $6,677,000 after buying an additional 16,277 shares in the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.
Blackhawk Network Holdings Company Profile
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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