FY2023 EPS Estimates for The Honest Company, Inc. Lifted by Analyst (NASDAQ:HNST)

The Honest Company, Inc. (NASDAQ:HNST) – Analysts at Telsey Advisory Group increased their FY2023 earnings estimates for shares of Honest in a note issued to investors on Thursday, November 9th. Telsey Advisory Group analyst D. Telsey now forecasts that the company will post earnings of ($0.50) per share for the year, up from their previous forecast of ($0.57). Telsey Advisory Group has a “Market Perform” rating and a $2.00 price target on the stock. The consensus estimate for Honest’s current full-year earnings is ($0.53) per share. Telsey Advisory Group also issued estimates for Honest’s Q4 2023 earnings at ($0.08) EPS and FY2024 earnings at ($0.23) EPS.

Separately, Morgan Stanley lowered their target price on shares of Honest from $2.00 to $1.85 and set an “equal weight” rating for the company in a report on Wednesday, August 9th.

Honest Stock Performance

HNST opened at $1.48 on Monday. The company has a fifty day moving average price of $1.26 and a two-hundred day moving average price of $1.48. Honest has a 52 week low of $1.06 and a 52 week high of $3.75. The firm has a market capitalization of $141.30 million, a PE ratio of -2.60 and a beta of 0.47.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of Honest during the second quarter worth $26,000. Tower Research Capital LLC TRC boosted its stake in Honest by 375.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 14,632 shares of the company’s stock worth $52,000 after purchasing an additional 11,552 shares during the period. Virtu Financial LLC acquired a new position in Honest in the 2nd quarter worth $58,000. LPL Financial LLC acquired a new position in Honest in the 2nd quarter worth $60,000. Finally, Bank of Montreal Can boosted 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 worth $61,000 after purchasing an additional 5,275 shares during the period. Institutional investors and hedge funds own 37.11% of the company’s stock.

Insiders Place Their Bets

In other Honest news, CFO Kelly J. Kennedy sold 40,327 shares of Honest stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $1.23, for a total transaction of $49,602.21. Following the completion of the sale, the chief financial officer now owns 922,715 shares of the company’s stock, valued at approximately $1,134,939.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Honest news, CFO Kelly J. Kennedy sold 40,327 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $1.23, for a total value of $49,602.21. Following the completion of the transaction, the chief financial officer now directly owns 922,715 shares of the company’s stock, valued at $1,134,939.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Janis Hoyt sold 42,488 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $1.43, for a total value of $60,757.84. Following the sale, the insider now directly owns 175,771 shares in the company, valued at approximately $251,352.53. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,779 shares of company stock valued at $170,977. Company insiders own 14.60% 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.