Honest’s (HNST) Market Perform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Honest (NASDAQ:HNST) in a research note published on Wednesday, Benzinga reports. They currently have a $4.00 price target on the stock.

Several other brokerages have also issued reports on HNST. Alliance Global Partners started coverage on Honest in a research note on Tuesday, February 6th. They issued a buy rating and a $5.75 price target on the stock. Morgan Stanley boosted their price target on Honest from $1.85 to $4.00 and gave the company an equal weight rating in a research note on Thursday, March 7th. Loop Capital boosted their price target on Honest from $4.00 to $5.00 and gave the company a hold rating in a research note on Thursday, March 14th. Finally, Lake Street Capital started coverage on Honest in a research note on Thursday, April 4th. They issued a buy rating and a $6.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Honest has a consensus rating of Hold and an average target price of $4.95.

Honest Price Performance

Honest stock opened at $3.25 on Wednesday. The stock’s 50 day moving average is $3.67 and its 200 day moving average is $2.65. The firm has a market cap of $315.36 million, a P/E ratio of -7.74 and a beta of 1.83. Honest has a one year low of $1.06 and a one year high of $4.89.

Honest (NASDAQ:HNST) last posted its quarterly earnings data on Wednesday, March 6th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $90.26 million for the quarter, compared to analyst estimates of $83.54 million. Honest had a negative return on equity of 30.36% and a negative net margin of 11.39%. Equities analysts anticipate that Honest will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at Honest

In other news, insider Jessica Warren sold 23,324 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $3.24, for a total transaction of $75,569.76. Following the transaction, the insider now directly owns 1,905,237 shares of the company’s stock, valued at $6,172,967.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Carla Vernon sold 209,160 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $4.16, for a total transaction of $870,105.60. Following the completion of the sale, the chief executive officer now owns 2,924,387 shares in the company, valued at $12,165,449.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica Warren sold 23,324 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $3.24, for a total value of $75,569.76. Following the sale, the insider now owns 1,905,237 shares of the company’s stock, valued at approximately $6,172,967.88. The disclosure for this sale can be found here. Insiders have sold 273,301 shares of company stock valued at $1,077,922 over the last ninety days. 14.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Honest

Several institutional investors have recently bought and sold shares of HNST. XTX Topco Ltd bought a new stake in Honest during the second quarter worth $26,000. Tower Research Capital LLC TRC bought a new position in Honest in the 3rd quarter valued at $41,000. LPL Financial LLC bought a new position in Honest in the 2nd quarter valued at $60,000. Bank of Montreal Can grew its stake in Honest by 37.4% in the 2nd quarter. Bank of Montreal Can now owns 19,383 shares of the company’s stock valued at $61,000 after purchasing an additional 5,275 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in Honest in the 1st quarter valued at $61,000. Institutional investors own 45.54% of the company’s stock.

Honest Company Profile

The Honest Company, Inc manufactures and sells diapers and wipes, skin and personal care, and household and wellness products. The company also offers baby clothing and nursery bedding products. It sells its products through digital and retail sales channels, such as its website and third-party ecommerce sites, as well as brick and mortar retailers.