Northland Capmk Issues Positive Estimate for Honest Earnings

The Honest Company, Inc. (NASDAQ:HNST) – Analysts at Northland Capmk boosted their FY2024 earnings per share (EPS) estimates for shares of Honest in a research note issued to investors on Wednesday, November 13th. Northland Capmk analyst O. Rickert now expects that the company will post earnings per share of ($0.06) for the year, up from their prior forecast of ($0.09). Northland Capmk has a “Strong-Buy” rating on the stock. The consensus estimate for Honest’s current full-year earnings is ($0.07) per share. Northland Capmk also issued estimates for Honest’s FY2025 earnings at $0.02 EPS.

A number of other equities research analysts have also issued reports on the stock. Telsey Advisory Group increased their target price on shares of Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a report on Wednesday, November 13th. Alliance Global Partners lifted their target price on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. B. Riley boosted their target price on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Northland Securities increased their price target on Honest from $6.50 to $7.50 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.93.

Honest Stock Performance

NASDAQ HNST opened at $6.91 on Monday. The firm has a market cap of $697.63 million, a price-to-earnings ratio of -172.75 and a beta of 1.85. The firm has a 50 day simple moving average of $3.96 and a 200-day simple moving average of $3.53. Honest has a one year low of $1.40 and a one year high of $7.14.

Hedge Funds Weigh In On Honest

Several large investors have recently bought and sold shares of HNST. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Honest by 6.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company’s stock valued at $11,295,000 after purchasing an additional 191,547 shares during the last quarter. Vanguard Group Inc. increased its position in Honest by 10.4% during the first quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock worth $11,549,000 after buying an additional 268,600 shares during the period. Geode Capital Management LLC lifted its stake in Honest by 3.8% in the third quarter. Geode Capital Management LLC now owns 1,811,621 shares of the company’s stock valued at $6,468,000 after buying an additional 65,995 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Honest by 117.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock valued at $4,579,000 after acquiring an additional 846,300 shares during the period. Finally, State Street Corp grew its position in shares of Honest by 23.0% during the third quarter. State Street Corp now owns 1,181,469 shares of the company’s stock worth $4,218,000 after acquiring an additional 220,699 shares during the last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

Insiders Place Their Bets

In other Honest news, General Counsel Brendan Sheehey sold 8,176 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $34,993.28. Following the sale, the general counsel now owns 517,861 shares of the company’s stock, valued at approximately $2,216,445.08. This trade represents a 1.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the sale, the insider now owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. This represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,461,187 shares of company stock valued at $8,739,880 in the last ninety days. Insiders own 8.60% 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.