CLSA Upgrades Blackhawk Network Holdings Inc to Outperform with Price Target $36.00

Brokerage firm CLSA Upgrades its rating on Blackhawk Network Holdings Inc(NASDAQ:HAWK). In a research note issued to the investors, the brokerage major Raises the price-target to $36.00 per share. The shares have been rated Outperform. Previously, the analysts had a Underperform rating on the shares. The rating by CLSA was issued on Sep 21, 2016.

Blackhawk Network Holdings Inc (HAWK) made into the market gainers list on Tuesdays trading session with the shares advancing 4.75% or 1.38 points. Due to strong positive momentum, the stock ended at $30.42, which is also near the day’s high of $30.69. The stock began the session at $29.25 and the volume stood at 11,27,171 shares. The 52-week high of the shares is $48.4 and the 52 week low is $28.88. The company has a current market capitalization of $1,713 M and it has 5,63,19,000 shares in outstanding.

Blackhawk Network Holdings Inc(HAWK) last announced its earnings results on Jul 19, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $183.72M. Analysts had an estimated revenue of $183.84M. Earnings per share were $0.37. Analysts had estimated an EPS of $0.24.

Several Insider Transactions has been reported to the SEC. On Aug 1, 2016, Arun Sarin (director) sold 25,000 shares at $35.92 per share price.Also, On May 19, 2016, Joan B Lockie (Chief Accounting Officer) sold 403 shares at $31.77 per share price.On Nov 12, 2015, Roche L Talbott Hoskins (President) sold 17,500 shares at $45.26 per share price, according to the Form-4 filing with the securities and exchange commission.

Blackhawk Network Holdings Inc. (Blackhawk) is a prepaid payment network. The Company offers a range of prepaid gift telecom and debit cards in physical and electronic forms and related prepaid products and payment services in the United States and 21 other countries. It operates in two segments: US Retail and Incentives & Rewards and International Retail. US Retail and Incentives & Rewards segment consists of the various operating segments of its United States retail products online channel secondary card market and incentive and reward solutions and derives revenues from sales of prepaid products to consumers at its United States retail distribution partners online and through its card exchange and prepaid products to consumers through business clients. Its International Retail segment consists of the various operating segments of its geographic regions and derives revenues from sales of prepaid products to consumers at its international retail distribution partners.

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