Blackhawk Network (HAWK) Lowered to Hold at Citigroup

Blackhawk Network (NASDAQ:HAWK) was downgraded by equities researchers at Citigroup from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday. They currently have a $45.25 price objective on the credit services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Blackhawk Network from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Wednesday, December 13th. SunTrust Banks set a $43.00 price target on shares of Blackhawk Network and gave the stock a “buy” rating in a research note on Thursday, October 12th. Argus lowered their price objective on shares of Blackhawk Network from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. Deutsche Bank reissued a “buy” rating and issued a $51.00 price objective on shares of Blackhawk Network in a research note on Friday, November 3rd. Finally, Craig Hallum cut shares of Blackhawk Network from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $47.77.

Blackhawk Network (HAWK) traded up $0.10 during trading hours on Monday, hitting $45.25. 3,858,600 shares of the stock were exchanged, compared to its average volume of 4,687,154. 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 has a fifty-two week low of $32.60 and a fifty-two week high of $46.70. The firm has a market cap of $2,570.00, a PE ratio of -502.78, a PEG ratio of 5.46 and a beta of 0.48.

Several institutional investors have recently added to or reduced their stakes in HAWK. Schwab Charles Investment Management Inc. boosted its stake in shares of Blackhawk Network by 6.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 249,091 shares of the credit services provider’s stock worth $10,861,000 after purchasing an additional 14,318 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Blackhawk Network by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 264,667 shares of the credit services provider’s stock worth $11,539,000 after purchasing an additional 8,670 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Blackhawk Network by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 19,282 shares of the credit services provider’s stock worth $844,000 after purchasing an additional 351 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of Blackhawk Network during the 2nd quarter worth about $207,000. Finally, Alliancebernstein L.P. boosted its stake in shares of Blackhawk Network by 69.3% during the 2nd quarter. Alliancebernstein L.P. now owns 145,291 shares of the credit services provider’s stock worth $6,335,000 after purchasing an additional 59,490 shares during the last quarter. 96.51% of the stock is currently 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.

Analyst Recommendations for Blackhawk Network (NASDAQ:HAWK)

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