Blackhawk Network Holdings Inc. (HAWK) Stock Rating Reaffirmed by Jefferies Group
Blackhawk Network Holdings Inc. (NASDAQ:HAWK)‘s stock had its “buy” rating restated by research analysts at Jefferies Group in a note issued to investors on Tuesday. They presently have a $43.00 target price on the stock. Jefferies Group’s price target indicates a potential upside of 24.64% from the stock’s current price.
Several other research firms have also weighed in on HAWK. Zacks Investment Research raised Blackhawk Network Holdings from a “sell” rating to a “strong-buy” rating and set a $41.00 price objective on the stock in a research note on Wednesday, July 27th. Bank of America Corp. raised Blackhawk Network Holdings from a “neutral” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Friday, July 22nd. Wedbush reaffirmed a “neutral” rating and issued a $30.00 price objective on shares of Blackhawk Network Holdings in a research note on Saturday. Finally, Credit Agricole SA raised Blackhawk Network Holdings from an “underperform” rating to an “outperform” rating and raised their price objective 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 issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $42.75.
Blackhawk Network Holdings (NASDAQ:HAWK) opened at 34.50 on Tuesday. The stock’s 50 day moving average price is $31.89 and its 200 day moving average price is $33.15. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 85.40 and a beta of 0.67. Blackhawk Network Holdings has a 52-week low of $28.88 and a 52-week high of $48.40.
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Blackhawk Network Holdings (NASDAQ:HAWK) last released its earnings results on Tuesday, October 11th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.04. The company had revenue of $361.60 million for the quarter. Blackhawk Network Holdings had a return on equity of 13.38% and a net margin of 1.15%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.35 earnings per share. On average, equities analysts anticipate that Blackhawk Network Holdings will post $1.57 earnings per share for the current fiscal year.
In other news, Director Arun Sarin sold 25,000 shares of the firm’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 directly owns 40,529 shares in the company, valued at $1,455,801.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.24% of the company’s stock.
Several institutional investors have recently modified their holdings of HAWK. Atria Investments LLC bought a new position in shares of Blackhawk Network Holdings during the third quarter worth about $242,000. BNP Paribas Arbitrage SA increased its stake in shares of Blackhawk Network Holdings by 113.6% in the third quarter. BNP Paribas Arbitrage SA now owns 4,645 shares of the company’s stock worth $140,000 after buying an additional 2,470 shares during the last quarter. Royal Bank of Canada increased its stake in shares of 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 last quarter. Sterling Capital Management LLC acquired a new stake in shares of Blackhawk Network Holdings during the second quarter worth $247,000. Finally, Lebenthal Holdings LLC increased its stake in shares of 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 last quarter. Institutional investors own 91.34% 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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