Blackhawk Network Holdings, Inc. (HAWK) Given Average Rating of “Buy” by Brokerages
Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) has been given an average rating of “Buy” by the sixteen ratings firms that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $45.14.
HAWK has been the subject of a number of research analyst reports. Citigroup Inc. raised Blackhawk Network Holdings from a “neutral” rating to a “buy” rating and lifted their price target for the company from $39.00 to $47.00 in a report on Friday, May 19th. Zacks Investment Research cut Blackhawk Network Holdings from a “hold” rating to a “sell” rating in a report on Thursday, June 15th. BidaskClub cut Blackhawk Network Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. TheStreet cut Blackhawk Network Holdings from a “b-” rating to a “c” rating in a report on Tuesday, June 20th. Finally, Mizuho initiated coverage on Blackhawk Network Holdings in a report on Tuesday, June 27th. They set a “buy” rating and a $50.00 price objective for the company.
In related news, SVP David C. Tate sold 18,669 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $42.88, for a total value of $800,526.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jerry N. Ulrich sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $45.15, for a total value of $3,386,250.00. Following the completion of the transaction, the chief financial officer now owns 63,280 shares of the company’s stock, valued at $2,857,092. The disclosure for this sale can be found here. Insiders sold a total of 96,212 shares of company stock valued at $4,298,465 over the last quarter. 3.80% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Blackhawk Network Holdings during the second quarter valued at about $1,070,000. Castleark Management LLC acquired a new position in shares of Blackhawk Network Holdings during the second quarter valued at about $14,290,000. Nomura Holdings Inc. raised its position in shares of Blackhawk Network Holdings by 2.7% in the second quarter. Nomura Holdings Inc. now owns 103,480 shares of the credit services provider’s stock valued at $4,502,000 after buying an additional 2,754 shares in the last quarter. Argent Capital Management LLC acquired a new position in shares of Blackhawk Network Holdings during the second quarter valued at about $1,603,000. Finally, Cubist Systematic Strategies LLC raised its position in shares of Blackhawk Network Holdings by 270.7% in the second quarter. Cubist Systematic Strategies LLC now owns 9,639 shares of the credit services provider’s stock valued at $420,000 after buying an additional 7,039 shares in the last quarter. Institutional investors and hedge funds own 95.77% of the company’s stock.
Shares of Blackhawk Network Holdings (NASDAQ:HAWK) opened at 43.55 on Wednesday. Blackhawk Network Holdings has a one year low of $28.88 and a one year high of $46.70. The stock has a 50 day moving average of $43.37 and a 200 day moving average of $40.98. The stock’s market cap is $2.47 billion.
Blackhawk Network Holdings (NASDAQ:HAWK) last released its quarterly earnings results on Wednesday, July 19th. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.07. Blackhawk Network Holdings had a positive return on equity of 5.49% and a negative net margin of 0.01%. The business had revenue of $463.10 million during the quarter, compared to analysts’ expectations of $447.43 million. During the same period in the previous year, the business posted $0.13 earnings per share. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. Equities analysts expect that Blackhawk Network Holdings will post $1.68 EPS for the current fiscal year.
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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