Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) had its price objective decreased by Argus from $50.00 to $45.00 in a report published on Tuesday, October 17th. Argus currently has a buy rating on the credit services provider’s stock.
Several other brokerages have also commented on HAWK. BMO Capital Markets reaffirmed an outperform rating and issued a $52.00 price objective (up previously from $50.00) on shares of Blackhawk Network Holdings in a report on Tuesday, September 12th. Zacks Investment Research lowered Blackhawk Network Holdings from a buy rating to a hold rating in a report on Wednesday, September 20th. SunTrust Banks, Inc. set a $43.00 price objective on Blackhawk Network Holdings and gave the stock a buy rating in a report on Thursday, October 12th. Citigroup Inc. reaffirmed a buy rating and issued a $47.00 price objective on shares of Blackhawk Network Holdings in a report on Monday, July 17th. Finally, Bank of America Corporation cut their price objective on Blackhawk Network Holdings from $50.00 to $46.00 and set a neutral rating for the company in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $47.23.
Shares of Blackhawk Network Holdings (NASDAQ:HAWK) traded down 0.87% during mid-day trading on Tuesday, hitting $34.25. 139,162 shares of the stock were exchanged. Blackhawk Network Holdings has a one year low of $32.60 and a one year high of $46.70. The stock’s market cap is $1.94 billion. The company has a 50-day moving average of $41.36 and a 200 day moving average of $42.29.
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. Blackhawk Network Holdings had a positive return on equity of 4.12% and a negative net margin of 0.14%. The company had revenue of $419.30 million during the quarter, compared to analyst estimates of $439.32 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. Blackhawk Network Holdings’s revenue was up 16.0% compared to the same quarter last year. On average, equities analysts predict that Blackhawk Network Holdings will post $1.64 earnings per share for the current year.
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In other news, insider Joan B. Lockie sold 2,543 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $43.92, for a total value of $111,688.56. Following the transaction, the insider now directly owns 17,168 shares in the company, valued at $754,018.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David C. Tate sold 18,669 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $42.88, for a total value of $800,526.72. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Aperio Group LLC purchased a new position in shares of Blackhawk Network Holdings in the third quarter valued at about $205,000. Fox Run Management L.L.C. purchased a new position in shares of Blackhawk Network Holdings in the third quarter valued at about $272,000. Public Employees Retirement System of Ohio purchased a new position in shares of Blackhawk Network Holdings in the second quarter valued at about $1,070,000. Castleark Management LLC purchased a new position in shares of Blackhawk Network Holdings in the second quarter valued at about $14,290,000. Finally, Nomura Holdings Inc. lifted its position in shares of Blackhawk Network Holdings by 2.7% in the second quarter. Nomura Holdings Inc. now owns 103,480 shares of the credit services provider’s stock valued at $4,502,000 after acquiring an additional 2,754 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.
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