Mizuho Lowers Blackhawk Network Holdings, Inc. (HAWK) to Neutral

Mizuho downgraded shares of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) from a buy rating to a neutral rating in a research note released on Wednesday, October 18th, MarketBeat Ratings reports. The brokerage currently has $50.00 price objective on the credit services provider’s stock.

A number of other research firms have also commented on HAWK. BMO Capital Markets reaffirmed an outperform rating and issued a $52.00 price objective (up from $50.00) on shares of Blackhawk Network Holdings in a research note on Tuesday, September 12th. Zacks Investment Research lowered shares of Blackhawk Network Holdings from a buy rating to a hold rating in a research note on Wednesday, September 20th. SunTrust Banks, Inc. set a $43.00 target price on shares of Blackhawk Network Holdings and gave the stock a buy rating in a research note on Thursday, October 12th. Citigroup Inc. reissued a buy rating and set a $47.00 target price on shares of Blackhawk Network Holdings in a research note on Monday, July 17th. Finally, Bank of America Corporation dropped their price objective on shares of Blackhawk Network Holdings from $50.00 to $46.00 and set a neutral rating on the stock in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $47.23.

Shares of Blackhawk Network Holdings (HAWK) traded down 1.59% during trading on Wednesday, reaching $34.00. 549,395 shares of the company’s stock were exchanged. Blackhawk Network Holdings has a 52-week low of $32.60 and a 52-week high of $46.70. The stock’s market cap is $1.93 billion. The stock’s 50 day moving average price is $40.79 and its 200-day moving average price is $42.20.

Blackhawk Network Holdings (NASDAQ:HAWK) last announced its quarterly earnings results on Wednesday, October 11th. The credit services provider reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.07. Blackhawk Network Holdings had a negative net margin of 0.14% and a positive return on equity of 4.12%. The firm had revenue of $419.30 million during the quarter, compared to analysts’ expectations of $439.32 million. During the same period in the prior year, the company posted $0.14 EPS. The company’s revenue was up 16.0% on a year-over-year basis. On average, equities research analysts forecast that Blackhawk Network Holdings will post $1.64 EPS for the current year.

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In other Blackhawk Network Holdings news, insider Joan B. Lockie sold 2,543 shares of Blackhawk Network Holdings stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $43.92, for a total transaction of $111,688.56. Following the completion of the sale, 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 SEC, which is available at the SEC website. Also, SVP David C. Tate sold 18,669 shares of Blackhawk Network Holdings stock in a transaction that occurred on 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. Insiders own 3.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of HAWK. First Trust Advisors LP increased its stake in shares of Blackhawk Network Holdings by 26.4% in the first quarter. First Trust Advisors LP now owns 17,671 shares of the credit services provider’s stock worth $717,000 after buying an additional 3,692 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Blackhawk Network Holdings by 41.9% in the first quarter. UBS Asset Management Americas Inc. now owns 30,964 shares of the credit services provider’s stock worth $1,257,000 after buying an additional 9,142 shares during the period. SG Americas Securities LLC increased its position in Blackhawk Network Holdings by 235.8% during the 1st quarter. SG Americas Securities LLC now owns 14,738 shares of the credit services provider’s stock valued at $598,000 after purchasing an additional 10,349 shares during the period. American International Group Inc. increased its position in Blackhawk Network Holdings by 5.2% during the 1st quarter. American International Group Inc. now owns 33,238 shares of the credit services provider’s stock valued at $1,349,000 after purchasing an additional 1,646 shares during the period. Finally, OppenheimerFunds Inc. purchased a new position in Blackhawk Network Holdings during the 1st quarter valued at $294,000. 95.31% of the stock is currently owned by institutional investors.

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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