Zacks Investment Research upgraded shares of Blackhawk Network (NASDAQ:HAWK) from a strong sell rating to a hold rating in a research note released on Wednesday.
According to Zacks, “Blackhawk Network Holdings, Inc. is a provider of prepaid and financial payments products for consumers and businesses. The company distributes gift cards, prepaid handsets and prepaid financial services products. Blackhawk Network Holdings, Inc. is headquartered in Pleasanton, California. “
Other analysts have also recently issued reports about the company. First Analysis cut Blackhawk Network from an overweight rating to an equal weight rating in a research report on Tuesday, January 23rd. Mizuho reaffirmed a hold rating and set a $36.00 price objective on shares of Blackhawk Network in a research report on Monday, February 26th. Craig Hallum cut Blackhawk Network from a buy rating to a hold rating in a research report on Tuesday, January 16th. Citigroup cut Blackhawk Network from a buy rating to a hold rating and set a $45.25 price objective on the stock. in a research report on Monday, January 22nd. Finally, BidaskClub raised Blackhawk Network from a sell rating to a hold rating in a research report on Thursday, February 8th. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Blackhawk Network currently has an average rating of Hold and an average target price of $46.10.
Blackhawk Network (HAWK) traded up $0.02 during trading on Wednesday, reaching $44.72. The company’s stock had a trading volume of 277,317 shares, compared to its average volume of 2,632,532. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.96. Blackhawk Network has a fifty-two week low of $32.60 and a fifty-two week high of $47.00.
Blackhawk Network (NASDAQ:HAWK) last posted its quarterly earnings data on Tuesday, February 27th. The credit services provider reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.04. The business had revenue of $423.18 million for the quarter, compared to analysts’ expectations of $384.70 million. Blackhawk Network had a negative return on equity of 18.94% and a negative net margin of 6.98%. analysts forecast that Blackhawk Network will post 0.56 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. We Are One Seven LLC purchased a new position in Blackhawk Network in the 4th quarter worth approximately $155,000. MetLife Investment Advisors LLC purchased a new position in Blackhawk Network in the 4th quarter worth approximately $877,000. Park West Asset Management LLC raised its holdings in Blackhawk Network by 19.3% in the 4th quarter. Park West Asset Management LLC now owns 1,789,728 shares of the credit services provider’s stock worth $63,804,000 after acquiring an additional 289,728 shares during the last quarter. Tensile Capital Management LLC raised its holdings in Blackhawk Network by 30.3% in the 4th quarter. Tensile Capital Management LLC now owns 1,108,754 shares of the credit services provider’s stock worth $39,527,000 after acquiring an additional 257,800 shares during the last quarter. Finally, Vident Investment Advisory LLC raised its holdings in Blackhawk Network by 138.2% in the 4th quarter. Vident Investment Advisory LLC now owns 13,570 shares of the credit services provider’s stock worth $484,000 after acquiring an additional 7,872 shares during the last quarter. 96.25% of the stock is currently owned by hedge funds and other 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.
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