Blackhawk Network (NASDAQ:HAWK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $39.00 price target on the credit services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.88% from the stock’s current price.

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 equities research analysts also recently weighed in on the stock. Deutsche Bank reaffirmed a “buy” rating and issued a $51.00 price target on shares of Blackhawk Network in a research note on Friday, November 3rd. BidaskClub raised shares of Blackhawk Network from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Mizuho downgraded shares of Blackhawk Network from a “buy” rating to a “neutral” rating and set a $50.00 price target for the company. in a research note on Wednesday, October 18th. Craig Hallum reaffirmed a “buy” rating and issued a $58.00 price target on shares of Blackhawk Network in a research note on Friday, September 1st. Finally, SunTrust Banks set a $43.00 price target on shares of Blackhawk Network and gave the company a “buy” rating in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. Blackhawk Network currently has a consensus rating of “Buy” and a consensus target price of $46.69.

Shares of Blackhawk Network (NASDAQ HAWK) traded down $0.60 during midday trading on Wednesday, reaching $34.55. 932,897 shares of the company were exchanged, compared to its average volume of 671,459. Blackhawk Network has a fifty-two week low of $32.60 and a fifty-two week high of $46.70. The company has a market capitalization of $1,999.82, a P/E ratio of 61.75, a PEG ratio of 5.65 and a beta of 0.48. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86.

Blackhawk Network (NASDAQ:HAWK) last announced its earnings results on Wednesday, October 11th. The credit services provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. Blackhawk Network had a negative net margin of 0.14% and a positive return on equity of 4.12%. The business had revenue of $419.30 million during the quarter, compared to the consensus estimate of $439.32 million. During the same quarter last year, the firm earned $0.14 earnings per share. Blackhawk Network’s quarterly revenue was up 16.0% on a year-over-year basis. analysts anticipate that Blackhawk Network will post 0.41 earnings per share for the current year.

Several large investors have recently bought and sold shares of HAWK. Assetmark bought a new stake in shares of Blackhawk Network during the third quarter worth about $0. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Blackhawk Network by 1.3% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,675 shares of the credit services provider’s stock worth $100,000 after acquiring an additional 35 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Blackhawk Network by 37.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 3,333 shares of the credit services provider’s stock worth $109,000 after acquiring an additional 911 shares in the last quarter. Strs Ohio increased its position in shares of Blackhawk Network by 38.9% during the second quarter. Strs Ohio now owns 2,500 shares of the credit services provider’s stock worth $109,000 after acquiring an additional 700 shares in the last quarter. Finally, Horrell Capital Management Inc. bought a new stake in shares of Blackhawk Network during the second quarter worth about $121,000. 96.75% of the stock is owned by institutional investors.

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About Blackhawk Network

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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