Blackhawk Network Holdings, Inc. (HAWK) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

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. “

HAWK has been the subject of several other research reports. Bank of America Corporation lifted their price target on Blackhawk Network Holdings from $44.00 to $49.00 and gave the stock a neutral rating in a research note on Thursday, July 20th. Mizuho reaffirmed a buy rating and set a $52.00 price target (up previously from $50.00) on shares of Blackhawk Network Holdings in a research note on Saturday, July 22nd. Craig Hallum reaffirmed a buy rating and set a $58.00 price target on shares of Blackhawk Network Holdings in a research note on Friday, September 1st. BidaskClub raised Blackhawk Network Holdings from a hold rating to a buy rating in a research note on Tuesday, July 25th. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $53.00 price target (up previously from $49.00) on shares of Blackhawk Network Holdings in a research note on Monday, July 24th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $45.86.

Blackhawk Network Holdings (NASDAQ:HAWK) last posted its earnings results on Wednesday, July 19th. The credit services provider reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.07. Blackhawk Network Holdings had a positive return on equity of 5.49% and a negative net margin of 0.01%. The business had revenue of $463.10 million during the quarter, compared to analysts’ expectations of $447.43 million. During the same period in the previous year, the business earned $0.13 earnings per share. The firm’s revenue was up 18.4% on a year-over-year basis.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HAWK. Nationwide Fund Advisors raised its position in Blackhawk Network Holdings by 1.4% during the 1st quarter. Nationwide Fund Advisors now owns 59,061 shares of the credit services provider’s stock valued at $2,398,000 after purchasing an additional 817 shares during the last quarter. Russell Investments Group Ltd. raised its position in Blackhawk Network Holdings by 108.2% during the 1st quarter. Russell Investments Group Ltd. now owns 180,735 shares of the credit services provider’s stock valued at $7,338,000 after purchasing an additional 93,915 shares during the last quarter. First Trust Advisors LP raised its position in Blackhawk Network Holdings by 26.4% during the 1st quarter. First Trust Advisors LP now owns 17,671 shares of the credit services provider’s stock valued at $717,000 after purchasing an additional 3,692 shares during the last quarter. US Bancorp DE raised its position in Blackhawk Network Holdings by 10.1% during the 1st quarter. US Bancorp DE now owns 8,351 shares of the credit services provider’s stock valued at $339,000 after purchasing an additional 764 shares during the last quarter. Finally, Swiss National Bank raised its position in Blackhawk Network Holdings by 1.8% during the 1st quarter. Swiss National Bank now owns 92,676 shares of the credit services provider’s stock valued at $3,763,000 after purchasing an additional 1,600 shares during the last quarter. 95.31% of the stock is owned by institutional investors and hedge funds.

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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