Zacks Investment Research Downgrades Blackhawk Network Holdings Inc. (HAWK) to Strong Sell
Blackhawk Network Holdings Inc. (NASDAQ:HAWK) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors 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. “
HAWK has been the topic of a number of other reports. Jefferies Group restated a “buy” rating and issued a $43.00 price target on shares of Blackhawk Network Holdings in a report on Monday, October 10th. Bank of America Corp. reaffirmed a “hold” rating and issued a $36.00 target price on shares of Blackhawk Network Holdings in a research report on Wednesday, July 20th. Credit Agricole SA raised Blackhawk Network Holdings from an “underperform” rating to an “outperform” rating and lifted their target price for the company from $34.00 to $36.00 in a research report on Wednesday, September 21st. They noted that the move was a valuation call. Finally, Wedbush reaffirmed a “neutral” rating and issued a $30.00 target price on shares of Blackhawk Network Holdings in a research report on Saturday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Blackhawk Network Holdings has a consensus rating of “Buy” and a consensus target price of $42.75.
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Shares of Blackhawk Network Holdings (NASDAQ:HAWK) traded up 4.35% during mid-day trading on Tuesday, hitting $36.00. The company’s stock had a trading volume of 1,060,791 shares. The company has a market cap of $2.03 billion, a price-to-earnings 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 has a 50-day moving average of $31.95 and a 200 day moving average of $33.16.
Blackhawk Network Holdings (NASDAQ:HAWK) last issued its quarterly earnings results on Tuesday, October 11th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 earnings per share. On average, analysts expect that Blackhawk Network Holdings will post $1.57 EPS for the current year.
In other Blackhawk Network Holdings news, Director Arun Sarin sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $35.92, for a total transaction of $898,000.00. Following the transaction, the director now owns 40,529 shares of the company’s stock, valued at $1,455,801.68. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.24% of the company’s stock.
A number of institutional investors have recently made changes to their positions in HAWK. Bloom Tree Partners LLC increased 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 during the last quarter. Renaissance Technologies LLC increased 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 during the last quarter. HBK Investments L P increased its position 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 last quarter. Geode Capital Management LLC increased its position in Blackhawk Network Holdings by 7.1% in the first quarter. Geode Capital Management LLC now owns 379,461 shares of the company’s stock valued at $13,015,000 after buying an additional 25,117 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its position in Blackhawk Network Holdings by 23.5% in the first quarter. Loomis Sayles & Co. L P now owns 557,605 shares of the company’s stock valued at $19,126,000 after buying an additional 106,120 shares during the last quarter. 91.34% 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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