Blackhawk Network Holdings, Inc. (HAWK) Price Target Lowered to $45.00 at Argus

Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) had its price target reduced by Argus from $50.00 to $45.00 in a research note published on Tuesday. They currently have a buy rating on the credit services provider’s stock.

Several other brokerages also recently weighed in on HAWK. Bank of America Corporation lifted their price objective on shares of Blackhawk Network Holdings from $44.00 to $49.00 and gave the company a neutral rating in a research report on Thursday, July 20th. Zacks Investment Research upgraded shares of Blackhawk Network Holdings from a hold rating to a strong-buy rating and set a $51.00 price objective on the stock in a research report on Tuesday, July 25th. Mizuho reiterated a buy rating and issued a $52.00 price objective (up from $50.00) on shares of Blackhawk Network Holdings in a research report on Saturday, July 22nd. Craig Hallum reiterated a buy rating and issued a $58.00 price objective on shares of Blackhawk Network Holdings in a research report on Friday, September 1st. Finally, BidaskClub upgraded shares of Blackhawk Network Holdings from a hold rating to a buy rating in a research report on Tuesday, July 25th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $47.23.

Blackhawk Network Holdings (NASDAQ:HAWK) last issued its quarterly earnings data on Wednesday, October 11th. The credit services provider reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 negative net margin of 0.14% and a positive return on equity of 4.16%. Blackhawk Network Holdings’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the firm posted $0.14 EPS.

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In other Blackhawk Network Holdings news, CFO Jerry N. Ulrich sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $45.15, for a total transaction of $3,386,250.00. Following the transaction, the chief financial officer now owns 63,280 shares of the company’s stock, valued at approximately $2,857,092. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP David C. Tate sold 18,669 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $42.88, for a total transaction of $800,526.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,212 shares of company stock worth $4,298,465. 3.80% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in HAWK. Amalgamated Bank grew its stake in shares of Blackhawk Network Holdings by 4.8% in the 2nd quarter. Amalgamated Bank now owns 7,057 shares of the credit services provider’s stock worth $308,000 after purchasing an additional 326 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Blackhawk Network Holdings by 1.9% in 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. Strs Ohio grew its stake in shares of Blackhawk Network Holdings by 38.9% in the 2nd quarter. Strs Ohio now owns 2,500 shares of the credit services provider’s stock worth $109,000 after purchasing an additional 700 shares during the last quarter. Turner Investments LLC grew its stake in shares of Blackhawk Network Holdings by 20.0% in the 2nd quarter. Turner Investments LLC now owns 6,000 shares of the credit services provider’s stock worth $262,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Geneva Advisors LLC grew its stake in shares of Blackhawk Network Holdings by 2.5% in the 2nd quarter. Geneva Advisors LLC now owns 44,795 shares of the credit services provider’s stock worth $1,953,000 after purchasing an additional 1,078 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors.

Blackhawk Network Holdings Company Profile

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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