Blackhawk Network Holdings Inc. (HAWK) Rating Lowered to Strong Sell at Zacks Investment Research
Blackhawk Network Holdings Inc. (NASDAQ:HAWK) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday.
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. “
A number of other research analysts have also weighed in on HAWK. Bank of America Corp. reissued a “hold” rating and issued a $36.00 target price on shares of Blackhawk Network Holdings in a research note on Wednesday, July 20th. Credit Agricole SA raised shares of Blackhawk Network Holdings from an “underperform” rating to an “outperform” rating and raised their target price for the stock from $34.00 to $36.00 in a research note on Wednesday, September 21st. They noted that the move was a valuation call. Jefferies Group reissued a “buy” rating and issued a $43.00 target price on shares of Blackhawk Network Holdings in a research note on Monday, October 10th. Finally, Wedbush reissued a “neutral” rating and issued a $30.00 target price on shares of Blackhawk Network Holdings in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $42.75.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/18/blackhawk-network-holdings-inc-hawk-rating-lowered-to-strong-sell-at-zacks-investment-research.html
Shares of Blackhawk Network Holdings (NASDAQ:HAWK) traded up 4.35% on Tuesday, reaching $36.00. The company had a trading volume of 1,060,791 shares. The stock has a market capitalization of $2.03 billion, a P/E ratio of 89.11 and a beta of 0.67. 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 price is $31.95 and its 200-day moving average price is $33.16.
Blackhawk Network Holdings (NASDAQ:HAWK) last released its earnings results on Tuesday, October 11th. The company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.04. Blackhawk Network Holdings had a net margin of 1.15% and a return on equity of 13.38%. The business had revenue of $361.60 million for the quarter. During the same period last year, the business earned $0.35 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts predict that Blackhawk Network Holdings will post $1.57 EPS for the current 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 shares were sold at an average price of $35.92, for a total value of $898,000.00. Following the completion of the sale, the director now owns 40,529 shares in the company, valued at approximately $1,455,801.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.24% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale increased its stake in Blackhawk Network Holdings by 37.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 3,333 shares of the company’s stock valued at $109,000 after buying an additional 911 shares during the period. BNP Paribas Arbitrage SA increased 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 during the period. US Bancorp DE increased its stake in Blackhawk Network Holdings by 94.7% in the second quarter. US Bancorp DE now owns 5,800 shares of the company’s stock valued at $194,000 after buying an additional 2,821 shares during the period. Penserra Capital Management LLC increased its stake in Blackhawk Network Holdings by 22.6% in the second quarter. Penserra Capital Management LLC now owns 6,392 shares of the company’s stock valued at $214,000 after buying an additional 1,178 shares during the period. Finally, HBK Investments L P increased its stake in Blackhawk Network Holdings by 10.3% in the first quarter. HBK Investments L P now owns 6,400 shares of the company’s stock valued at $220,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 91.34% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Blackhawk Network Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackhawk Network Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.