Blackhawk Network Holdings, Inc. (HAWK) Price Target Increased to $49.00 by Analysts at Bank of America Corporation

Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) had its price objective boosted by analysts at Bank of America Corporation from $44.00 to $49.00 in a note issued to investors on Thursday. The brokerage presently has a “neutral” rating on the credit services provider’s stock. Bank of America Corporation’s price objective points to a potential upside of 6.29% from the company’s previous close.

Several other equities analysts have also recently weighed in on HAWK. Citigroup Inc. reaffirmed a “buy” rating and set a $47.00 target price on shares of Blackhawk Network Holdings in a research note on Monday. BidaskClub cut shares of Blackhawk Network Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research raised shares of Blackhawk Network Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Mizuho began coverage on shares of Blackhawk Network Holdings in a research note on Tuesday, June 27th. They set a “buy” rating and a $50.00 target price for the company. Finally, TheStreet cut shares of Blackhawk Network Holdings from a “b-” rating to a “c” rating in a research note on Tuesday, June 20th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $43.07.

Blackhawk Network Holdings (HAWK) traded up 6.10% during mid-day trading on Thursday, hitting $46.10. 2,118,773 shares of the stock were exchanged. The stock’s market capitalization is $2.60 billion. The company has a 50-day moving average of $43.01 and a 200-day moving average of $39.78. Blackhawk Network Holdings has a 52 week low of $28.88 and a 52 week high of $46.70.

Blackhawk Network Holdings (NASDAQ:HAWK) last posted its earnings results on Wednesday, July 19th. The credit services provider reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.07. The company had revenue of $463.10 million during the quarter, compared to analysts’ expectations of $447.43 million. Blackhawk Network Holdings had a negative net margin of 0.27% and a positive return on equity of 8.36%. Blackhawk Network Holdings’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period last year, the company posted $0.13 earnings per share. On average, equities analysts predict that Blackhawk Network Holdings will post $1.65 EPS for the current fiscal year.

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In other Blackhawk Network Holdings news, insider Joan B. Lockie sold 5,374 shares of the stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $41.53, for a total transaction of $223,182.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Kirsten E. Richesson sold 21,779 shares of the stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $41.00, for a total transaction of $892,939.00. Following the transaction, the general counsel now owns 26,136 shares of the company’s stock, valued at approximately $1,071,576. The disclosure for this sale can be found here. Insiders have sold 77,153 shares of company stock valued at $3,198,121 in the last quarter. 3.80% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in HAWK. Jana Partners LLC purchased a new stake in Blackhawk Network Holdings during the first quarter valued at about $109,418,000. Vident Investment Advisory LLC purchased a new stake in Blackhawk Network Holdings during the first quarter valued at about $326,000. Atria Investments LLC raised its stake in Blackhawk Network Holdings by 3.0% in the first quarter. Atria Investments LLC now owns 10,428 shares of the credit services provider’s stock valued at $423,000 after buying an additional 308 shares during the period. State Street Corp raised its stake in Blackhawk Network Holdings by 4.1% in the fourth quarter. State Street Corp now owns 991,589 shares of the credit services provider’s stock valued at $37,362,000 after buying an additional 39,207 shares during the period. Finally, Vivaldi Capital Management LLC purchased a new stake in Blackhawk Network Holdings during the first quarter valued at about $10,376,670,000. Hedge funds and other institutional investors own 99.59% 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.

Analyst Recommendations for Blackhawk Network Holdings (NASDAQ:HAWK)

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