Telsey Advisory Group Reaffirms “Market Perform” Rating for Honest (NASDAQ:HNST)

Honest (NASDAQ:HNST)‘s stock had its “market perform” rating reaffirmed by stock analysts at Telsey Advisory Group in a research note issued on Thursday,Benzinga reports. They currently have a $3.00 price objective on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 32.16% from the stock’s previous close.

HNST has been the subject of several other reports. Morgan Stanley decreased their price objective on shares of Honest from $4.25 to $3.00 and set an “equal weight” rating for the company in a report on Wednesday, November 19th. B. Riley Financial reaffirmed a “buy” rating on shares of Honest in a report on Thursday, November 6th. Lake Street Capital downgraded shares of Honest from a “buy” rating to a “hold” rating and set a $3.00 price objective for the company. in a report on Thursday, November 6th. Zacks Research lowered Honest from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Honest in a report on Friday, January 16th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Honest has a consensus rating of “Reduce” and a consensus price target of $3.00.

Honest Stock Performance

Shares of HNST opened at $2.27 on Thursday. Honest has a 1 year low of $2.07 and a 1 year high of $6.22. The company’s 50 day simple moving average is $2.50 and its 200 day simple moving average is $3.14. The company has a market capitalization of $253.76 million, a price-to-earnings ratio of 37.83 and a beta of 2.30.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Honest by 6.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,916 shares of the company’s stock worth $235,000 after buying an additional 3,210 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Honest by 18.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 21,366 shares of the company’s stock valued at $81,000 after acquiring an additional 3,365 shares during the last quarter. Osaic Holdings Inc. raised its holdings in Honest by 33.9% during the second quarter. Osaic Holdings Inc. now owns 14,577 shares of the company’s stock worth $74,000 after acquiring an additional 3,693 shares in the last quarter. CWM LLC boosted its position in 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 purchasing an additional 3,985 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Honest by 14.9% during the second quarter. The Manufacturers Life Insurance Company now owns 33,734 shares of the company’s stock valued at $172,000 after purchasing an additional 4,378 shares during the last quarter. 45.54% of the stock is currently owned by institutional investors.

Honest Company Profile

The Honest Company, Inc (NASDAQ: HNST) is an American consumer goods firm specializing in eco-friendly and responsibly formulated products for babies, personal care, beauty and home cleaning. The company emphasizes transparency in ingredient sourcing and product safety, positioning itself in the premium segment of mass-market retail and direct-to-consumer channels.

Honest was founded in 2011 by actress Jessica Alba and environmental health advocate Christopher Gavigan with a mission to offer parents household and baby care items free from harsh chemicals and synthetic fragrances.