Honest (NASDAQ:HNST) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Honest (NASDAQ:HNST) from a strong-buy rating to a hold rating in a research report released on Thursday,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Morgan Stanley dropped their price objective on Honest from $5.50 to $4.25 and set an “equal weight” rating for the company in a research note on Friday, August 15th. Telsey Advisory Group cut their price objective on shares of Honest from $6.00 to $3.00 and set a “market perform” rating for the company in a report on Thursday. Lake Street Capital downgraded shares of Honest from a “buy” rating to a “hold” rating and set a $3.00 target price on the stock. in a report on Thursday. Weiss Ratings lowered shares of Honest from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Finally, B. Riley reaffirmed a “buy” rating on shares of Honest in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.96.

Honest Trading Up 14.2%

NASDAQ HNST opened at $2.66 on Thursday. Honest has a 12 month low of $2.31 and a 12 month high of $8.97. The stock has a market cap of $297.36 million, a price-to-earnings ratio of 44.33 and a beta of 2.28. The company’s 50 day moving average is $3.70 and its two-hundred day moving average is $4.33.

Honest (NASDAQ:HNST) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $92.57 million during the quarter, compared to analysts’ expectations of $99.43 million. Honest had a net margin of 1.85% and a return on equity of 3.92%. Honest has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Honest will post -0.07 EPS for the current year.

Insider Activity at Honest

In related news, General Counsel Brendan Sheehey sold 12,059 shares of Honest stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total value of $44,015.35. Following the completion of the transaction, the general counsel owned 568,588 shares in the company, valued at approximately $2,075,346.20. This trade represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Carla Vernon sold 99,328 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total value of $362,547.20. Following the sale, the chief executive officer directly owned 2,998,993 shares in the company, valued at $10,946,324.45. The trade was a 3.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 131,890 shares of company stock valued at $481,399. Insiders own 8.90% of the company’s stock.

Institutional Trading of Honest

A number of institutional investors have recently bought and sold shares of the stock. Wealthfront Advisers LLC purchased a new position in Honest during the third quarter worth $75,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Honest by 18.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 21,366 shares of the company’s stock worth $81,000 after purchasing an additional 3,365 shares during the period. Ethos Financial Group LLC lifted its stake in Honest by 45.1% in the third quarter. Ethos Financial Group LLC now owns 17,733 shares of the company’s stock worth $65,000 after purchasing an additional 5,514 shares during the last quarter. CWM LLC boosted its position in shares of Honest by 17.1% during the third quarter. CWM LLC now owns 27,342 shares of the company’s stock valued at $101,000 after buying an additional 3,985 shares during the period. Finally, Inspire Investing LLC boosted its position in shares of Honest by 61.6% during the third quarter. Inspire Investing LLC now owns 123,120 shares of the company’s stock valued at $453,000 after buying an additional 46,914 shares during the period. 45.54% of the stock is currently owned by institutional investors.

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.