Honest (NASDAQ:HNST) Given New $5.00 Price Target at B. Riley Financial

Honest (NASDAQ:HNST) had its price target upped by B. Riley Financial from $4.00 to $5.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial’s target price points to a potential downside of 6.07% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Wall Street Zen raised shares of Honest from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Honest in a research report on Tuesday, May 26th. Telsey Advisory Group reissued a “market perform” rating and set a $4.00 target price on shares of Honest in a report on Thursday, May 7th. Morgan Stanley set a $3.40 price target on Honest in a report on Thursday, May 7th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Honest in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $3.85.

Honest Price Performance

HNST stock traded up $1.47 during midday trading on Thursday, hitting $5.32. The company’s stock had a trading volume of 6,998,457 shares, compared to its average volume of 1,686,099. The company’s fifty day moving average price is $3.70 and its 200 day moving average price is $3.15. Honest has a twelve month low of $2.07 and a twelve month high of $5.84. The stock has a market capitalization of $585.95 million, a P/E ratio of -31.31 and a beta of 2.12.

Honest (NASDAQ:HNST) last released its earnings results on Wednesday, August 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $80.19 million for the quarter, compared to the consensus estimate of $77.83 million. Honest had a positive return on equity of 3.52% and a negative net margin of 5.39%. Equities analysts expect that Honest will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at Honest

In related news, General Counsel Brendan Sheehey sold 9,784 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $3.14, for a total value of $30,721.76. Following the completion of the sale, the general counsel directly owned 715,888 shares in the company, valued at approximately $2,247,888.32. The trade was a 1.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Curtiss James Bruce III sold 12,669 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $3.14, for a total value of $39,780.66. Following the transaction, the chief financial officer owned 526,157 shares in the company, valued at approximately $1,652,132.98. This trade represents a 2.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 175,058 shares of company stock valued at $550,591 in the last three months. Corporate insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Honest

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Group AG raised its stake in Honest by 77.3% during the fourth quarter. UBS Group AG now owns 1,014,939 shares of the company’s stock worth $2,619,000 after acquiring an additional 442,542 shares in the last quarter. SG Americas Securities LLC increased its position in Honest by 122.3% during the 4th quarter. SG Americas Securities LLC now owns 36,461 shares of the company’s stock worth $94,000 after purchasing an additional 20,059 shares in the last quarter. Echo Wealth Management LLC lifted its stake in Honest by 28.9% in the 4th quarter. Echo Wealth Management LLC now owns 178,761 shares of the company’s stock valued at $461,000 after purchasing an additional 40,056 shares during the last quarter. Amicus Financial Advisors LLC acquired a new stake in Honest in the fourth quarter valued at approximately $29,000. Finally, Alpine Global Management LLC bought a new stake in shares of Honest during the fourth quarter worth $86,000. 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.