Loop Capital Trims Honest (NASDAQ:HNST) Target Price to $3.00

Honest (NASDAQ:HNST) had its target price dropped by equities research analysts at Loop Capital from $5.00 to $3.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s price objective points to a potential downside of 0.99% from the company’s previous close.

HNST has been the subject of several other research reports. Lake Street Capital began coverage on shares of Honest in a research note on Thursday, April 4th. They issued a “buy” rating and a $6.00 price objective for the company. Telsey Advisory Group reissued a “market perform” rating and issued a $4.00 price objective on shares of Honest in a research note on Wednesday, April 10th. Morgan Stanley raised their price objective on shares of Honest from $1.85 to $4.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Finally, Alliance Global Partners began 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Honest has a consensus rating of “Hold” and a consensus target price of $4.55.

Honest Trading Down 1.0 %

Shares of NASDAQ:HNST opened at $3.03 on Friday. Honest has a 12 month low of $1.06 and a 12 month high of $4.89. The company has a 50-day moving average price of $3.65 and a 200 day moving average price of $2.72. The company has a market cap of $294.00 million, a price-to-earnings ratio of -7.21 and a beta of 1.83.

Honest (NASDAQ:HNST) last announced its quarterly earnings results on Wednesday, March 6th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The firm had revenue of $90.26 million during the quarter, compared to the consensus estimate of $83.54 million. Honest had a negative net margin of 11.39% and a negative return on equity of 30.36%. As a group, equities analysts forecast that Honest will post -0.18 EPS for the current year.

Insider Buying and Selling at Honest

In other news, General Counsel Brendan Sheehey sold 21,152 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $3.24, for a total transaction of $68,532.48. Following the transaction, the general counsel now owns 534,620 shares of the company’s stock, valued at approximately $1,732,168.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Brendan Sheehey sold 21,152 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $3.24, for a total value of $68,532.48. Following the completion of the sale, the general counsel now owns 534,620 shares in the company, valued at approximately $1,732,168.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jessica Warren sold 23,324 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $3.24, for a total transaction of $75,569.76. Following the transaction, the insider now owns 1,905,237 shares in the company, valued at $6,172,967.88. The disclosure for this sale can be found here. Insiders sold a total of 803,229 shares of company stock valued at $2,684,496 in the last ninety days. Corporate insiders own 14.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HNST. BlackRock Inc. grew its stake in Honest by 2.8% in the third quarter. BlackRock Inc. now owns 4,582,708 shares of the company’s stock valued at $16,040,000 after purchasing an additional 125,362 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Honest by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 2,582,901 shares of the company’s stock valued at $8,524,000 after buying an additional 149,711 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its position in shares of Honest by 46.8% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,035,000 shares of the company’s stock worth $6,125,000 after buying an additional 649,000 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Honest by 386.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,759,900 shares of the company’s stock worth $5,139,000 after acquiring an additional 1,397,880 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Honest by 50.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,451,038 shares of the company’s stock valued at $2,612,000 after acquiring an additional 484,772 shares during the last quarter. 45.54% of the stock is owned by 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.