Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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. “

Several other analysts have also recently weighed in on HAWK. Citigroup Inc. reiterated a “buy” rating and issued a $47.00 price target on shares of Blackhawk Network Holdings in a report on Monday, July 17th. BidaskClub lowered Blackhawk Network Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Bank of America Corporation raised their price objective on Blackhawk Network Holdings from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 20th. Mizuho reissued a “buy” rating and set a $52.00 price objective (up previously from $50.00) on shares of Blackhawk Network Holdings in a research report on Saturday, July 22nd. Finally, Jefferies Group LLC reissued a “buy” rating and set a $53.00 price objective (up previously from $49.00) on shares of Blackhawk Network Holdings in a research report on Monday, July 24th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $47.23.

Blackhawk Network Holdings (NASDAQ:HAWK) last released its quarterly earnings results on Wednesday, October 11th. The credit services provider reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.07. The business had revenue of $419.30 million for the quarter, compared to analysts’ expectations of $439.32 million. Blackhawk Network Holdings had a negative net margin of 0.14% and a positive return on equity of 4.12%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 earnings per share.

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Several institutional investors and hedge funds have recently bought and sold shares of the company. Aperio Group LLC purchased a new position in shares of Blackhawk Network Holdings in the 3rd quarter worth about $205,000. Fox Run Management L.L.C. purchased a new position in shares of Blackhawk Network Holdings in the 3rd quarter worth about $272,000. Public Employees Retirement System of Ohio purchased a new position in shares of Blackhawk Network Holdings in the 2nd quarter worth about $1,070,000. Castleark Management LLC purchased a new position in shares of Blackhawk Network Holdings in the 2nd quarter worth about $14,290,000. Finally, Nomura Holdings Inc. raised its position in shares of Blackhawk Network Holdings by 2.7% in the 2nd quarter. Nomura Holdings Inc. now owns 103,480 shares of the credit services provider’s stock worth $4,502,000 after purchasing an additional 2,754 shares during the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

About Blackhawk Network Holdings

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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Analyst Recommendations for Blackhawk Network Holdings (NASDAQ:HAWK)

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