Blackhawk Network Holdings, Inc. Announces 31% Rise In Q3 Earnings

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BMO Capital Markets reissued an outperform rating and issued a $52.00 target price (up from $50.00) on shares of Blackhawk Network Holdings in a report on Tuesday, September 12th. A bullish investor could look at HAWK's 23.3 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. On average, equities research analysts anticipate that Blackhawk Network Holdings, Inc. will post $1.68 EPS for the current year. In reaction, SunTrust Robinson cut its rating on the retailer to "hold" from "buy", while Deutsche Bank and Jefferies cut their respective price targets to $11 and $13. Mizuho reiterated a "buy" rating and set a $52.00 price target (up from $50.00) on shares of Blackhawk Network Holdings in a report on Saturday, July 22nd. Out of 6 Wall Street analysts rating BB&T Corp, 0 give it "Buy", 2 "Sell" rating, while 4 recommend "Hold". At the time of writing, the First Call consensus price target for the company is $6.50. Horrell Capital Management Inc. acquired a new stake in shares of Blackhawk Network Holdings during the 2nd quarter valued at about $121,000. The Pivot Point Capital Partners Llc holds 806,384 shares with $35.16M value, down from 918,184 last quarter.

In related news, CFO Jerry N. Ulrich sold 75,000 shares of the stock in a transaction that occurred on Wednesday, July 26th.

Blackhawk Network Holdings (NASDAQ:HAWK) last released its earnings results on Wednesday, October 11th. Blackhawk Network Holdings had 24 analyst reports since July 24, 2015 according to SRatingsIntel. The company had revenue of $419.30 million for the quarter, compared to analysts' expectations of $439.32 million. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Adjusted operating revenue surged to $208.3 million from $168.9 million a year ago. The shares were sold at an average price of $45.15, for a total value of $3,386,250.00. Maple Rock Capital Partners, Inc. now owns 470,000 shares valued at $20,492,000. Also, SVP David C. Tate sold 18,669 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock's average target of $46.67 is -1.33% below today's ($47.3) share price. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company's stock. Brean Capital maintained the shares of INCY in report on Wednesday, August 5 with "Buy" rating. If you are accessing this article on another domain, it was illegally stolen and reposted in violation of worldwide copyright law.

Blackhawk Network Holdings Inc (NASDAQ:HAWK) has risen 34.41% since October 11, 2016 and is uptrending.

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"We have recently seen increasing competitive pressures in some retail markets and believe this will result in lower growth in our USA retail physical channels going forward", said Blackhawk CEO Talbott Roche in a statement.

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