Credit Suisse Group Raises Blackhawk Network (HAWK) Price Target to $45.00

Blackhawk Network (NASDAQ:HAWK) had its price objective boosted by investment analysts at Credit Suisse Group from $40.00 to $45.00 in a report released on Wednesday. The brokerage currently has a “neutral” rating on the credit services provider’s stock. Credit Suisse Group’s price objective suggests a potential downside of 0.11% from the company’s current price.

HAWK has been the topic of a number of other reports. BidaskClub upgraded Blackhawk Network from a “strong sell” rating to a “sell” rating in a report on Saturday, December 30th. Zacks Investment Research upgraded Blackhawk Network from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Wednesday, December 13th. Deutsche Bank reiterated a “buy” rating and set a $51.00 price target on shares of Blackhawk Network in a report on Friday, November 3rd. Mizuho lowered Blackhawk Network from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a report on Wednesday, October 18th. Finally, SunTrust Banks set a $43.00 price target on Blackhawk Network and gave the stock a “buy” rating in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $47.92.

Blackhawk Network (HAWK) traded up $8.55 during mid-day trading on Wednesday, hitting $45.05. The stock had a trading volume of 31,950,000 shares, compared to its average volume of 4,280,120. The company has a market capitalization of $2,560.00, a price-to-earnings ratio of -500.56, a PEG ratio of 3.66 and a beta of 0.48. Blackhawk Network has a 52 week low of $32.60 and a 52 week high of $46.70. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.74.

A number of large investors have recently added to or reduced their stakes in the business. Amalgamated Bank increased its position in Blackhawk Network by 4.8% in the second quarter. Amalgamated Bank now owns 7,057 shares of the credit services provider’s stock worth $308,000 after buying an additional 326 shares during the last quarter. Legal & General Group Plc increased its position in Blackhawk Network by 1.9% in the second quarter. Legal & General Group Plc now owns 19,282 shares of the credit services provider’s stock worth $844,000 after buying an additional 351 shares during the last quarter. Nordea Investment Management AB increased its position in Blackhawk Network by 1.1% in the second quarter. Nordea Investment Management AB now owns 162,600 shares of the credit services provider’s stock worth $7,089,000 after buying an additional 1,800 shares during the last quarter. Principal Financial Group Inc. increased its position in Blackhawk Network by 33.4% in the third quarter. Principal Financial Group Inc. now owns 10,149 shares of the credit services provider’s stock worth $445,000 after buying an additional 2,539 shares during the last quarter. Finally, American International Group Inc. increased its position in Blackhawk Network by 8.1% in the third quarter. American International Group Inc. now owns 36,679 shares of the credit services provider’s stock worth $1,607,000 after buying an additional 2,742 shares during the last quarter. 96.68% of the stock is owned by institutional investors and hedge funds.

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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.