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

Honest (NASDAQ:HNST)‘s stock had its “market perform” rating reaffirmed by Telsey Advisory Group in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $4.00 price objective on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 28.62% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Alliance Global Partners started coverage on shares of Honest in a research note on Tuesday, February 6th. They issued a “buy” rating and a $5.75 price objective for the company. Loop Capital dropped their price objective on Honest from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Friday, April 19th. Morgan Stanley lifted their target price on Honest from $1.85 to $4.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. Finally, Lake Street Capital initiated coverage on shares of Honest in a research report on Thursday, April 4th. They set a “buy” rating and a $6.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.55.

Honest Trading Up 5.4 %

Shares of HNST stock opened at $3.11 on Thursday. The stock has a market capitalization of $301.76 million, a price-to-earnings ratio of -7.02 and a beta of 1.91. Honest has a twelve month low of $1.06 and a twelve month high of $4.89. The stock has a fifty day simple moving average of $3.57 and a two-hundred day simple moving average of $2.88.

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

Insiders Place Their Bets

In related news, insider Jessica Warren sold 253,815 shares of Honest stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $2.99, for a total transaction of $758,906.85. Following the completion of the transaction, the insider now directly owns 1,109,489 shares in the company, valued at $3,317,372.11. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Jessica Warren sold 253,815 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $2.99, for a total value of $758,906.85. Following the completion of the sale, the insider now owns 1,109,489 shares of the company’s stock, valued at approximately $3,317,372.11. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Carla Vernon sold 209,160 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $4.16, for a total transaction of $870,105.60. Following the completion of the transaction, the chief executive officer now directly owns 2,924,387 shares in the company, valued at $12,165,449.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 803,229 shares of company stock valued at $2,684,496. 8.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Honest

A number of large investors have recently made changes to their positions in the stock. Green Alpha Advisors LLC increased its stake in Honest by 1.3% during the first quarter. Green Alpha Advisors LLC now owns 415,148 shares of the company’s stock worth $1,681,000 after acquiring an additional 5,249 shares during the last quarter. Wade G W & Inc. lifted its position in shares of Honest by 6.3% during the 4th quarter. Wade G W & Inc. now owns 197,290 shares of the company’s stock worth $651,000 after purchasing an additional 11,685 shares during the last quarter. Raymond James & Associates boosted its position in shares of Honest by 62.6% during the 4th quarter. Raymond James & Associates now owns 34,511 shares of the company’s stock worth $114,000 after acquiring an additional 13,285 shares in the last quarter. SG Americas Securities LLC purchased a new position in Honest in the first quarter valued at approximately $93,000. Finally, Echo Wealth Management LLC purchased a new stake in Honest in the first quarter valued at $101,000. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

About Honest

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.