Honest (NASDAQ:HNST) Rating Increased to Hold at Wall Street Zen

Honest (NASDAQ:HNST) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

A number of other research analysts have also issued reports on HNST. Zacks Research lowered Honest from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 25th. Telsey Advisory Group reissued a “market perform” rating and issued a $3.00 price target on shares of Honest in a report on Thursday, February 26th. Morgan Stanley set a $3.00 price objective on shares of Honest in a research report on Wednesday, March 4th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Honest in a report on Friday, January 16th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Honest in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $3.00.

Honest Stock Up 0.4%

NASDAQ:HNST opened at $2.74 on Friday. The stock has a market capitalization of $308.17 million, a PE ratio of -19.57 and a beta of 2.27. Honest has a 52 week low of $2.07 and a 52 week high of $5.55. The stock’s 50-day moving average price is $2.50 and its 200-day moving average price is $3.01.

Honest (NASDAQ:HNST) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.23). Honest had a positive return on equity of 4.57% and a negative net margin of 4.22%.The business had revenue of $88.04 million for the quarter, compared to analysts’ expectations of $88.57 million. Sell-side analysts expect that Honest will post -0.07 earnings per share for the current fiscal year.

Honest announced that its Board of Directors has initiated a share buyback program on Friday, February 20th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 9.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Honest

In related news, SVP Kunssberg Etienne Von sold 12,179 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $2.85, for a total value of $34,710.15. Following the completion of the transaction, the senior vice president directly owned 308,710 shares of the company’s stock, valued at approximately $879,823.50. This represents a 3.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dorria L. Ball sold 15,099 shares of Honest stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $2.85, for a total transaction of $43,032.15. Following the sale, the insider directly owned 432,295 shares in the company, valued at approximately $1,232,040.75. This trade represents a 3.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 191,894 shares of company stock worth $546,898 in the last quarter. 8.90% of the stock is owned by insiders.

Institutional Trading of Honest

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in shares of Honest by 10.5% during the 2nd quarter. Geode Capital Management LLC now owns 2,068,945 shares of the company’s stock worth $10,532,000 after purchasing an additional 196,218 shares during the last quarter. Portolan Capital Management LLC increased its holdings in shares of Honest by 11.4% in the third quarter. Portolan Capital Management LLC now owns 6,928,004 shares of the company’s stock valued at $25,495,000 after purchasing an additional 710,651 shares during the last quarter. Harbour Investments Inc. lifted its position in Honest by 876.1% during the fourth quarter. Harbour Investments Inc. now owns 19,521 shares of the company’s stock worth $50,000 after buying an additional 17,521 shares in the last quarter. Root Financial Partners LLC acquired a new position in Honest during the fourth quarter worth $140,000. Finally, SG Americas Securities LLC boosted its stake in Honest by 122.3% during the fourth quarter. SG Americas Securities LLC now owns 36,461 shares of the company’s stock worth $94,000 after buying an additional 20,059 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.