According to Zacks, “The Honest Company is a digitally-native, mission-driven brand focused on leading the clean lifestyle movement, creating a community for conscious consumers and seeking to disrupt multiple consumer product categories. They have been dedicated to developing clean, sustainable, effective and thoughtfully designed products. Their integrated multi-category product architecture is intentionally designed to serve their consumers every day, at every age and through every life stage, no matter where they are on their journey. Their three categories are Diapers and Wipes, Skin and Personal Care and Household and Wellness. “
Several other equities research analysts have also issued reports on the stock. Telsey Advisory Group decreased their price target on shares of Honest from $18.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, March 25th. Morgan Stanley decreased their price target on shares of Honest from $9.00 to $8.25 and set an “equal weight” rating on the stock in a report on Friday, March 25th. Loop Capital decreased their price target on shares of Honest from $8.00 to $5.00 in a report on Monday, May 16th. Guggenheim lowered shares of Honest from a “buy” rating to a “neutral” rating in a report on Friday, March 25th. Finally, Jefferies Financial Group lowered shares of Honest from a “buy” rating to a “hold” rating and decreased their price target for the company from $11.00 to $5.00 in a report on Friday, March 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.13.
Honest (NASDAQ:HNST – Get Rating) last released its earnings results on Friday, May 13th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Honest had a negative net margin of 15.94% and a negative return on equity of 27.61%. The firm had revenue of $68.70 million during the quarter, compared to the consensus estimate of $68.93 million. During the same period in the prior year, the business earned ($0.05) earnings per share. Honest’s quarterly revenue was down 15.2% compared to the same quarter last year. As a group, analysts anticipate that Honest will post -0.29 earnings per share for the current year.
In other news, CEO Nikolaos A. Vlahos sold 16,273 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $3.17, for a total value of $51,585.41. Following the transaction, the chief executive officer now owns 1,280,858 shares in the company, valued at approximately $4,060,319.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica Warren sold 34,003 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $3.58, for a total transaction of $121,730.74. Following the completion of the transaction, the insider now owns 620,666 shares in the company, valued at approximately $2,221,984.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,929 shares of company stock worth $851,865. 26.20% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Honest by 180.6% in the 4th quarter. BlackRock Inc. now owns 4,501,858 shares of the company’s stock valued at $36,419,000 after acquiring an additional 2,897,271 shares in the last quarter. FIL Ltd increased its stake in shares of Honest by 138.9% in the 3rd quarter. FIL Ltd now owns 2,825,000 shares of the company’s stock valued at $29,324,000 after acquiring an additional 1,642,425 shares in the last quarter. Champlain Investment Partners LLC increased its stake in shares of Honest by 38.2% in the 4th quarter. Champlain Investment Partners LLC now owns 2,549,060 shares of the company’s stock valued at $20,622,000 after acquiring an additional 704,415 shares in the last quarter. Norges Bank bought a new stake in shares of Honest in the 4th quarter valued at $13,841,000. Finally, State Street Corp increased its stake in shares of Honest by 12.2% in the 1st quarter. State Street Corp now owns 1,331,813 shares of the company’s stock valued at $6,939,000 after acquiring an additional 144,561 shares in the last quarter. Institutional investors own 76.60% of the company’s stock.
About Honest (Get Rating)
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.
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