Honest (NASDAQ:HNST) Receives “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of Honest (NASDAQ:HNST) in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a $4.00 price target on the stock.

A number of other equities research analysts also recently weighed in on the company. Lake Street Capital initiated coverage on Honest in a report on Thursday, April 4th. They issued a buy rating and a $6.00 price target for the company. Morgan Stanley raised their price target on shares of Honest from $1.85 to $4.00 and gave the stock an equal weight rating in a research report on Thursday, March 7th. Alliance Global Partners assumed coverage on Honest in a research note on Tuesday, February 6th. They set a buy rating and a $5.75 price objective for the company. Finally, Loop Capital upped their price target on shares of Honest from $4.00 to $5.00 and gave the company a hold rating in a research report on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $4.95.

Honest Stock Down 7.3 %

Shares of HNST stock opened at $3.45 on Wednesday. The firm’s 50 day moving average price is $3.65 and its two-hundred day moving average price is $2.62. Honest has a fifty-two week low of $1.06 and a fifty-two week high of $4.89. The stock has a market cap of $330.75 million, a price-to-earnings ratio of -8.21 and a beta of 1.83.

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

Insiders Place Their Bets

In other news, insider Jessica Warren sold 23,324 shares of Honest stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $3.24, for a total transaction of $75,569.76. Following the completion of the sale, the insider now directly owns 1,905,237 shares in the company, valued at approximately $6,172,967.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Honest news, CEO Carla Vernon sold 209,160 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $4.16, for a total transaction of $870,105.60. Following the transaction, the chief executive officer now directly owns 2,924,387 shares of the company’s stock, valued at $12,165,449.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica Warren sold 23,324 shares of the firm’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 $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 have sold a total of 273,301 shares of company stock valued at $1,077,922 in the last three months. Insiders own 26.20% of the company’s stock.

Institutional Trading of Honest

Several large investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in Honest in the 2nd quarter worth approximately $26,000. Tower Research Capital LLC TRC bought a new position in shares of Honest in the third quarter valued at approximately $41,000. LPL Financial LLC acquired a new stake in shares of Honest in the second quarter worth $60,000. Bank of Montreal Can boosted its holdings in shares of Honest by 37.4% during the 2nd quarter. Bank of Montreal Can now owns 19,383 shares of the company’s stock worth $61,000 after buying an additional 5,275 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Honest in the 1st quarter valued at $61,000. Institutional investors own 45.54% of the company’s stock.

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.