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

Honest (NASDAQ:HNST)‘s stock had its “market perform” rating reaffirmed by stock analysts at Telsey Advisory Group in a report released on Thursday, Benzinga reports. They currently have a $4.00 price target on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 28.62% from the company’s previous close.

Several other brokerages have also recently commented on HNST. Alliance Global Partners assumed coverage on shares of Honest in a research report on Tuesday, February 6th. They set a “buy” rating and a $5.75 target price for the company. Lake Street Capital started coverage on Honest in a research note on Thursday, April 4th. They issued a “buy” rating and a $6.00 target price on the stock. Morgan Stanley raised their target price on Honest from $1.85 to $4.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. Finally, Loop Capital lowered their price target on Honest from $5.00 to $3.00 and set a “hold” rating for the company in a research note on Friday, April 19th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.55.

Honest Stock Up 5.4 %

Shares of NASDAQ:HNST opened at $3.11 on Thursday. The company’s 50-day moving average price is $3.57 and its two-hundred day moving average price is $2.88. Honest has a 12 month low of $1.06 and a 12 month high of $4.89. The firm has a market cap of $301.76 million, a P/E ratio of -7.02 and a beta of 1.91.

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 the consensus estimate of ($0.08) by $0.09. The company 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%. As a group, equities analysts predict that Honest will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at Honest

In related news, EVP Stephen Winchell sold 19,665 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $3.24, for a total transaction of $63,714.60. Following the completion of the sale, the executive vice president now directly owns 428,957 shares of the company’s stock, valued at approximately $1,389,820.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Honest news, EVP Stephen Winchell sold 19,665 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 value of $63,714.60. Following the sale, the executive vice president now owns 428,957 shares of the company’s stock, valued at approximately $1,389,820.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica Warren sold 253,815 shares of the business’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $2.99, for a total value of $758,906.85. Following the completion of the sale, the insider now owns 1,109,489 shares in the company, valued at $3,317,372.11. The disclosure for this sale can be found here. Insiders have sold a total of 803,229 shares of company stock valued at $2,684,496 over the last 90 days. 8.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Honest

Several hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in Honest during the first quarter worth $93,000. Cornerstone Investment Partners LLC acquired a new position in shares of Honest during the 1st quarter worth about $161,000. Echo Wealth Management LLC bought a new position in shares of Honest in the 1st quarter valued at about $101,000. Cannon Global Investment Management LLC acquired a new stake in shares of Honest in the first quarter valued at about $122,000. Finally, Green Alpha Advisors LLC raised its holdings in Honest by 1.3% during the first quarter. Green Alpha Advisors LLC now owns 415,148 shares of the company’s stock worth $1,681,000 after acquiring an additional 5,249 shares in the last quarter. 45.54% of the stock is owned by institutional investors.

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.