Honest (NASDAQ:HNST) Earns Market Perform Rating from Telsey Advisory Group

Honest (NASDAQ:HNST)‘s stock had its “market perform” rating reissued by analysts at Telsey Advisory Group in a note issued to investors on Thursday,Benzinga reports. They currently have a $3.00 target price on the stock. Telsey Advisory Group’s price target would suggest a potential upside of 29.87% from the company’s current price.

Several other analysts have also recently commented on HNST. Morgan Stanley lowered their target price on shares of Honest from $4.25 to $3.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 19th. B. Riley Financial restated a “buy” rating on shares of Honest in a report on Thursday, November 6th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Honest in a research note on Friday, January 16th. Lake Street Capital lowered Honest from a “buy” rating to a “hold” rating and set a $3.00 price target on the stock. in a research note on Thursday, November 6th. Finally, Zacks Research downgraded shares of Honest from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Honest presently has an average rating of “Reduce” and an average target price of $3.00.

Honest Trading Up 2.2%

Shares of HNST stock opened at $2.31 on Thursday. The company has a market capitalization of $258.23 million, a price-to-earnings ratio of 38.50 and a beta of 2.30. The firm has a 50-day moving average price of $2.47 and a 200 day moving average price of $3.10. Honest has a twelve month low of $2.07 and a twelve month high of $5.87.

Honest (NASDAQ:HNST) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.23). The firm had revenue of $88.04 million for the quarter, compared to analyst estimates of $88.57 million. Honest had a return on equity of 3.86% and a net margin of 1.85%. As a group, research analysts predict that Honest will post -0.07 earnings per share for the current year.

Honest declared that its board has approved a share repurchase program on Friday, February 20th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 9.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Honest

Institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd boosted its position in Honest by 1,392.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,073 shares of the company’s stock worth $26,000 after purchasing an additional 6,599 shares during the period. Equity Wealth Partners LLC acquired a new position in shares of Honest during the third quarter worth about $37,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Honest in the third quarter worth about $39,000. State of Wyoming purchased a new stake in shares of Honest in the second quarter worth about $61,000. Finally, Ethos Financial Group LLC acquired a new stake in shares of Honest in the second quarter valued at about $62,000. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

Honest Company Profile

The Honest Company, Inc (NASDAQ: HNST) is an American consumer goods firm specializing in eco-friendly and responsibly formulated products for babies, personal care, beauty and home cleaning. The company emphasizes transparency in ingredient sourcing and product safety, positioning itself in the premium segment of mass-market retail and direct-to-consumer channels.

Honest was founded in 2011 by actress Jessica Alba and environmental health advocate Christopher Gavigan with a mission to offer parents household and baby care items free from harsh chemicals and synthetic fragrances.