Blackhawk Network Holdings, Inc. (HAWK) Price Target Cut to $46.00

Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) had its target price reduced by Bank of America Corporation from $50.00 to $46.00 in a research report issued to clients and investors on Thursday. The brokerage currently has a “neutral” rating on the credit services provider’s stock. Bank of America Corporation’s price target would indicate a potential upside of 31.99% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. BMO Capital Markets upgraded Blackhawk Network Holdings from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $40.00 to $50.00 in a research report on Wednesday, June 28th. Zacks Investment Research upgraded Blackhawk Network Holdings from a “hold” rating to a “strong-buy” rating and set a $51.00 target price on the stock in a research report on Tuesday, July 25th. Citigroup Inc. reiterated a “buy” rating and set a $47.00 target price on shares of Blackhawk Network Holdings in a research report on Monday, July 17th. BidaskClub upgraded Blackhawk Network Holdings from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, TheStreet downgraded Blackhawk Network Holdings from a “b-” rating to a “c” rating in a research report on Tuesday, June 20th. Eight research 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 a consensus price target of $46.23.

Shares of Blackhawk Network Holdings (NASDAQ HAWK) traded down 0.85% during mid-day trading on Thursday, reaching $34.85. The company had a trading volume of 1,841,619 shares. The firm has a 50 day moving average of $43.54 and a 200-day moving average of $42.61. The stock’s market capitalization is $1.97 billion. Blackhawk Network Holdings has a one year low of $32.75 and a one year high of $46.70.

Blackhawk Network Holdings (NASDAQ:HAWK) last issued its quarterly earnings data on Wednesday, October 11th. The credit services provider reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The company had revenue of $419.30 million during the quarter, compared to analyst estimates of $439.32 million. Blackhawk Network Holdings had a positive return on equity of 4.16% and a negative net margin of 0.14%. Blackhawk Network Holdings’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. Analysts forecast that Blackhawk Network Holdings will post $1.73 EPS for the current fiscal year.

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In other news, CFO Jerry N. Ulrich sold 75,000 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $45.15, for a total value of $3,386,250.00. Following the transaction, the chief financial officer now directly owns 63,280 shares in the company, valued at $2,857,092. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joan B. Lockie sold 2,543 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $43.92, for a total value of $111,688.56. Following the completion of the transaction, the insider now owns 17,168 shares in the company, valued at $754,018.56. The disclosure for this sale can be found here. Insiders sold 96,212 shares of company stock worth $4,298,465 over the last 90 days. Company insiders own 3.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Amalgamated Bank lifted its position in shares of Blackhawk Network Holdings by 4.8% in the second quarter. Amalgamated Bank now owns 7,057 shares of the credit services provider’s stock valued at $308,000 after acquiring an additional 326 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Blackhawk Network Holdings by 1.9% in the second quarter. Legal & General Group Plc now owns 19,282 shares of the credit services provider’s stock valued at $844,000 after acquiring an additional 351 shares in the last quarter. Strs Ohio lifted its position in shares of Blackhawk Network Holdings by 38.9% in the second quarter. Strs Ohio now owns 2,500 shares of the credit services provider’s stock valued at $109,000 after acquiring an additional 700 shares in the last quarter. Turner Investments LLC lifted its position in shares of Blackhawk Network Holdings by 20.0% in the second quarter. Turner Investments LLC now owns 6,000 shares of the credit services provider’s stock valued at $262,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Geneva Advisors LLC lifted its position in shares of Blackhawk Network Holdings by 2.5% in the second quarter. Geneva Advisors LLC now owns 44,795 shares of the credit services provider’s stock valued at $1,953,000 after acquiring an additional 1,078 shares in the last quarter. Institutional investors and hedge funds own 95.31% of the company’s stock.

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.

Analyst Recommendations for Blackhawk Network Holdings (NASDAQ:HAWK)

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