Honest (NASDAQ:HNST) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Honest (NASDAQ:HNST) from a sell rating to a hold rating in a research report sent to investors on Sunday morning.

Several other equities research analysts have also issued reports on HNST. JPMorgan Chase & Co. restated an “underweight” rating on shares of Honest in a research note on Friday, January 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Honest in a research report on Thursday, January 22nd. Zacks Research downgraded Honest from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 25th. Morgan Stanley set a $3.00 price objective on Honest in a report on Wednesday, March 4th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $3.00 price target on shares of Honest in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Honest has an average rating of “Reduce” and an average target price of $3.00.

Honest Stock Performance

Shares of NASDAQ:HNST opened at $2.77 on Friday. The company has a market capitalization of $311.54 million, a P/E ratio of -19.79 and a beta of 2.27. The company’s 50-day moving average is $2.51 and its 200 day moving average is $2.98. Honest has a fifty-two week low of $2.07 and a fifty-two week high of $5.55.

Honest (NASDAQ:HNST) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.23). The company had revenue of $88.04 million for the quarter, compared to analysts’ expectations of $88.57 million. Honest had a positive return on equity of 4.57% and a negative net margin of 4.22%. As a group, research analysts predict that Honest will post -0.07 earnings per share for the current year.

Honest announced that its Board of Directors has initiated 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 purchase up to 9.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at Honest

In related news, insider Dorria L. Ball sold 15,099 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $2.85, for a total transaction of $43,032.15. Following the sale, the insider owned 432,295 shares of the company’s stock, valued at approximately $1,232,040.75. This represents a 3.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Mayle sold 12,725 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $2.85, for a total transaction of $36,266.25. Following the completion of the sale, the senior vice president owned 455,391 shares in the company, valued at $1,297,864.35. This represents a 2.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 191,894 shares of company stock valued at $546,898 in the last quarter. 8.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Honest

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its stake in Honest by 1,392.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 7,073 shares of the company’s stock valued at $26,000 after buying an additional 6,599 shares during the period. Amicus Financial Advisors LLC bought a new position in Honest in the 4th quarter worth about $29,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Honest in the 4th quarter valued at about $32,000. Hibernia Wealth Partners LLC purchased a new stake in shares of Honest in the 4th quarter valued at about $32,000. Finally, Equity Wealth Partners LLC bought a new stake in shares of Honest during the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.

About Honest

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.