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. “
A number of other analysts also recently issued reports on the stock. Bank of America Corp. upgraded shares of Blackhawk Network Holdings from a neutral rating to a buy rating and set a $41.00 price objective for the company in a report on Friday, July 22nd. Credit Agricole SA upgraded shares of Blackhawk Network Holdings from an underperform rating to an outperform rating and raised their price objective for the stock from $34.00 to $36.00 in a report on Wednesday, September 21st. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Blackhawk Network Holdings presently has a consensus rating of Buy and an average target price of $43.63.
Blackhawk Network Holdings (NASDAQ:HAWK) opened at 31.04 on Wednesday. The firm has a market capitalization of $1.75 billion, a PE ratio of 76.83 and a beta of 0.64. Blackhawk Network Holdings has a 52-week low of $28.88 and a 52-week high of $48.40. The company’s 50-day moving average is $32.59 and its 200-day moving average is $33.39.
Blackhawk Network Holdings (NASDAQ:HAWK) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.13. Blackhawk Network Holdings had a net margin of 1.24% and a return on equity of 15.40%. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Analysts forecast that Blackhawk Network Holdings will post $1.57 EPS for the current fiscal year.
In other news, Director Arun Sarin sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $35.92, for a total value of $898,000.00. Following the completion of the transaction, the director now directly owns 40,529 shares in the company, valued at $1,455,801.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.24% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its position in Blackhawk Network Holdings by 0.6% in the second quarter. FMR LLC now owns 8,420,818 shares of the company’s stock worth $282,013,000 after buying an additional 50,700 shares during the period. Standard Life Investments LTD raised its position in Blackhawk Network Holdings by 85.7% in the second quarter. Standard Life Investments LTD now owns 4,800,778 shares of the company’s stock worth $160,874,000 after buying an additional 2,214,977 shares during the period. Vanguard Group Inc. raised its position in Blackhawk Network Holdings by 2.2% in the second quarter. Vanguard Group Inc. now owns 4,331,994 shares of the company’s stock worth $145,078,000 after buying an additional 94,881 shares during the period. P2 Capital Partners LLC raised its position in Blackhawk Network Holdings by 22.6% in the second quarter. P2 Capital Partners LLC now owns 2,300,000 shares of the company’s stock worth $77,027,000 after buying an additional 424,509 shares during the period. Finally, Bloom Tree Partners LLC raised its position in Blackhawk Network Holdings by 38.4% in the first quarter. Bloom Tree Partners LLC now owns 1,721,218 shares of the company’s stock worth $59,038,000 after buying an additional 477,889 shares during the period. Institutional investors own 91.35% of the company’s stock.
About Blackhawk Network Holdings
Blackhawk Network Holdings, Inc is a prepaid payment network. The Company offers a range of prepaid gift, telecom and debit cards, in physical and electronic forms, as well as related prepaid products and payment services. The Company’s segments are US Retail, International Retail and Incentives & Rewards.
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