Deutsche Bank AG Reaffirms “Buy” Rating for Blackhawk Network Holdings, Inc. (HAWK)
Blackhawk Network Holdings, Inc. (NASDAQ:HAWK)‘s stock had its “buy” rating restated by equities research analysts at Deutsche Bank AG in a report issued on Friday. They presently have a $51.00 target price on the credit services provider’s stock. Deutsche Bank AG’s price objective indicates a potential upside of 45.51% from the stock’s current price.
Other research analysts also recently issued reports about the company. Argus lowered their price target on Blackhawk Network Holdings from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, October 17th. BidaskClub downgraded Blackhawk Network Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research raised Blackhawk Network Holdings from a “hold” rating to a “strong-buy” rating and set a $51.00 price target on the stock in a report on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a $53.00 price target (up from $49.00) on shares of Blackhawk Network Holdings in a report on Monday, July 24th. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Blackhawk Network Holdings in a report on Thursday, October 12th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Blackhawk Network Holdings currently has an average rating of “Buy” and a consensus price target of $47.62.
Shares of Blackhawk Network Holdings (HAWK) traded up $0.30 during trading hours on Friday, hitting $35.05. The stock had a trading volume of 1,020,000 shares, compared to its average volume of 1,418,702. The company has a market capitalization of $1,991.30, a P/E ratio of 61.49, a P/E/G ratio of 5.63 and a beta of 0.45. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.86 and a current ratio of 0.86. Blackhawk Network Holdings has a 1 year low of $32.60 and a 1 year high of $46.70.
Blackhawk Network Holdings (NASDAQ:HAWK) last announced its quarterly earnings results on Wednesday, October 11th. The credit services provider reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. The firm had revenue of $419.30 million for the quarter, compared to the consensus estimate of $439.32 million. Blackhawk Network Holdings had a positive return on equity of 4.12% and a negative net margin of 0.14%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 earnings per share. sell-side analysts expect that Blackhawk Network Holdings will post 0.41 EPS for the current year.
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A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of Blackhawk Network Holdings by 71,649.0% in the first quarter. BlackRock Inc. now owns 3,416,688 shares of the credit services provider’s stock worth $138,718,000 after buying an additional 3,411,926 shares during the period. Newbrook Capital Advisors LP bought a new position in shares of Blackhawk Network Holdings in the second quarter worth about $52,890,000. Castleark Management LLC bought a new position in shares of Blackhawk Network Holdings in the second quarter worth about $14,290,000. Vivaldi Asset Management LLC bought a new position in shares of Blackhawk Network Holdings in the second quarter worth about $10,271,000. Finally, Renaissance Technologies LLC bought a new position in shares of Blackhawk Network Holdings in the first quarter worth about $8,650,000. 95.62% of the stock is currently owned by 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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