Blackhawk Network Holdings Inc (HAWK) Receives Average Recommendation of “Buy” from Analysts
Shares of Blackhawk Network Holdings Inc (NASDAQ:HAWK) have been assigned a consensus rating of “Buy” from the fourteen research firms that are currently covering the firm. Six investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $41.25.
Several research firms have recently weighed in on HAWK. Zacks Investment Research upgraded shares of Blackhawk Network Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, March 29th. First Analysis increased their price objective on shares of Blackhawk Network Holdings from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, March 23rd. Credit Suisse Group AG cut shares of Blackhawk Network Holdings from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $37.00 to $36.00 in a research report on Thursday, February 16th. Citigroup Inc upgraded shares of Blackhawk Network Holdings from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $39.00 to $47.00 in a research report on Friday. Finally, Deutsche Bank AG increased their price objective on shares of Blackhawk Network Holdings from $41.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, April 28th.
Blackhawk Network Holdings (NASDAQ:HAWK) opened at 41.95 on Monday. The stock’s 50 day moving average is $40.80 and its 200-day moving average is $37.81. The company’s market capitalization is $2.36 billion. Blackhawk Network Holdings has a 12 month low of $28.88 and a 12 month high of $42.80.
Blackhawk Network Holdings (NASDAQ:HAWK) last posted its quarterly earnings data on Wednesday, April 26th. The credit services provider reported ($0.08) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.07. Blackhawk Network Holdings had a net margin of 1.15% and a return on equity of 13.30%. The company had revenue of $407.20 million during the quarter, compared to analysts’ expectations of $379.13 million. During the same period in the prior year, the company posted $0.46 earnings per share. Blackhawk Network Holdings’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts expect that Blackhawk Network Holdings will post $1.65 EPS for the current year.
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In other Blackhawk Network Holdings news, CFO Jerry N. Ulrich sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $41.90, for a total value of $1,257,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Roche L. Talbott Hoskins sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $41.25, for a total transaction of $825,000.00. Following the completion of the transaction, the insider now directly owns 240,931 shares in the company, valued at $9,938,403.75. The disclosure for this sale can be found here. Insiders sold 77,153 shares of company stock valued at $3,198,121 over the last 90 days. Corporate insiders own 3.24% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. raised its position in Blackhawk Network Holdings by 23.4% in the first quarter. Point72 Asset Management L.P. now owns 1,455,100 shares of the credit services provider’s stock worth $59,077,000 after buying an additional 275,917 shares during the period. Park West Asset Management LLC raised its position in Blackhawk Network Holdings by 11.9% in the first quarter. Park West Asset Management LLC now owns 2,535,262 shares of the credit services provider’s stock worth $102,932,000 after buying an additional 268,763 shares during the period. Tudor Investment Corp ET AL acquired a new position in Blackhawk Network Holdings during the first quarter worth $434,000. Jana Partners LLC acquired a new position in Blackhawk Network Holdings during the first quarter worth $109,418,000. Finally, Nomura Holdings Inc. raised its position in Blackhawk Network Holdings by 6.5% in the first quarter. Nomura Holdings Inc. now owns 100,726 shares of the credit services provider’s stock worth $4,088,000 after buying an additional 6,172 shares during the period. 96.11% of the stock is currently owned by hedge funds and other institutional investors.
Blackhawk Network Holdings Company Profile
Blackhawk Network Holdings, Inc is a prepaid payment network. The Company operates through three segments: U.S. Retail, International, and Incentives & Rewards. The U.S. Retail segment is engaged in the sale of prepaid products to consumers at its retail distribution partners and online and the sale of telecom handsets to retail distribution partners for resale to consumers.
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