Blackhawk Network Holdings’ (HAWK) “Outperform” Rating Reaffirmed at BMO Capital Markets

Blackhawk Network Holdings, Inc. (NASDAQ:HAWK)‘s stock had its “outperform” rating restated by equities research analysts at BMO Capital Markets in a report released on Tuesday. They presently have a $52.00 price target on the credit services provider’s stock, up from their prior price target of $50.00. BMO Capital Markets’ target price would suggest a potential upside of 17.12% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Citigroup Inc. raised shares of Blackhawk Network Holdings from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $39.00 to $47.00 in a research note on Friday, May 19th. BidaskClub cut shares of Blackhawk Network Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. 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. Jefferies Group LLC reissued a “buy” rating and issued a $53.00 price target (up previously from $49.00) on shares of Blackhawk Network Holdings in a research note on Monday, July 24th. Finally, Bank of America Corporation boosted their price target on shares of Blackhawk Network Holdings from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 20th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $45.86.

Shares of Blackhawk Network Holdings (NASDAQ:HAWK) opened at 44.40 on Tuesday. The firm has a 50-day moving average of $43.53 and a 200-day moving average of $41.52. The firm’s market cap is $2.52 billion. Blackhawk Network Holdings has a 12 month low of $28.88 and a 12 month high of $46.70.

Blackhawk Network Holdings (NASDAQ:HAWK) last released its quarterly earnings results on Wednesday, July 19th. The credit services provider reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.07. Blackhawk Network Holdings had a negative net margin of 0.01% and a positive return on equity of 5.49%. The business had revenue of $463.10 million during the quarter, compared to analysts’ expectations of $447.43 million. During the same quarter in the previous year, the company earned $0.13 EPS. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. On average, analysts anticipate that Blackhawk Network Holdings will post $1.68 EPS for the current year.

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In other Blackhawk Network Holdings news, insider Joan B. Lockie sold 2,543 shares of the stock in a transaction 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 owns 17,168 shares of the company’s stock, valued at approximately $754,018.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jerry N. Ulrich sold 75,000 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $45.15, for a total transaction of $3,386,250.00. Following 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. Insiders sold a total of 96,212 shares of company stock valued at $4,298,465 in the last ninety days. 3.80% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Blackhawk Network Holdings by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,523,748 shares of the credit services provider’s stock worth $197,236,000 after purchasing an additional 105,653 shares in the last quarter. BlackRock Inc. increased its stake in shares of Blackhawk Network Holdings by 71,649.0% in the 1st quarter. BlackRock Inc. now owns 3,416,688 shares of the credit services provider’s stock worth $138,718,000 after acquiring an additional 3,411,926 shares in the last quarter. Jana Partners LLC bought a new position in shares of Blackhawk Network Holdings in the 1st quarter worth about $109,418,000. Park West Asset Management LLC increased its stake in shares of Blackhawk Network Holdings by 11.9% in the 1st quarter. Park West Asset Management LLC now owns 2,535,262 shares of the credit services provider’s stock worth $102,932,000 after acquiring an additional 268,763 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Blackhawk Network Holdings by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,711,582 shares of the credit services provider’s stock worth $74,626,000 after acquiring an additional 43,807 shares in the last quarter. 95.77% of the stock is owned by institutional investors and hedge funds.

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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