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

Honest (NASDAQ:HNST)‘s stock had its “market perform” rating reaffirmed by Telsey Advisory Group in a research report issued on Thursday,Benzinga reports. They currently have a $7.00 price objective on the stock. Telsey Advisory Group’s price target suggests a potential upside of 23.24% from the stock’s current price.

Several other research analysts also recently issued reports on HNST. Alliance Global Partners upped their price target on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a research report on Tuesday, December 17th. B. Riley raised their price target on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Northland Securities boosted their price objective on shares of Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $6.93.

Honest Trading Up 2.0 %

NASDAQ:HNST opened at $5.68 on Thursday. The stock has a market capitalization of $573.46 million, a P/E ratio of -142.00 and a beta of 2.43. Honest has a 1 year low of $2.40 and a 1 year high of $8.97. The firm has a 50 day moving average of $6.33 and a 200-day moving average of $5.44.

Honest (NASDAQ:HNST) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm had revenue of $99.84 million during the quarter, compared to the consensus estimate of $96.46 million. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. As a group, analysts forecast that Honest will post -0.07 EPS for the current fiscal year.

Insider Transactions at Honest

In other Honest news, Director Jessica Warren sold 465,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total value of $3,510,750.00. Following the transaction, the director now directly owns 1,170,058 shares of the company’s stock, valued at approximately $8,833,937.90. This trade represents a 28.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Honest

Several institutional investors and hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new position in shares of Honest in the 4th quarter worth $26,000. Zacks Investment Management bought a new position in Honest during the third quarter worth about $37,000. Creative Planning bought a new position in Honest during the third quarter worth about $39,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Honest during the 3rd quarter worth about $40,000. Finally, New York State Teachers Retirement System bought a new stake in shares of Honest in the 4th quarter valued at about $52,000. Institutional investors own 45.54% of the company’s stock.

Honest Company Profile

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.