JPMorgan Chase & Co. Lowers Honest (NASDAQ:HNST) Price Target to $10.00

Honest (NASDAQ:HNST) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $12.00 to $10.00 in a research note issued on Thursday, The Fly reports. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 46.41% from the company’s current price.

Separately, Zacks Investment Research raised Honest from a “sell” rating to a “hold” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Honest currently has an average rating of “Buy” and an average price target of $15.05.

HNST opened at $6.83 on Thursday. The stock has a 50-day moving average price of $8.15 and a 200-day moving average price of $10.63. The company has a quick ratio of 2.76, a current ratio of 4.34 and a debt-to-equity ratio of 0.21. Honest has a 1 year low of $6.69 and a 1 year high of $23.88.

Honest (NASDAQ:HNST) last issued its earnings results on Wednesday, November 10th. The company reported ($0.06) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.06). The business had revenue of $82.65 million during the quarter, compared to analysts’ expectations of $80.92 million. As a group, equities research analysts expect that Honest will post -0.41 EPS for the current fiscal year.

In other news, Director Jeremy Liew sold 529,108 shares of the stock in a transaction that occurred on Wednesday, December 1st. The stock was sold at an average price of $8.28, for a total transaction of $4,381,014.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nikolaos A. Vlahos sold 10,140 shares of the stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $10.00, for a total value of $101,400.00. The disclosure for this sale can be found here. Insiders sold a total of 555,775 shares of company stock valued at $4,647,684 over the last 90 days.

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC acquired a new stake in Honest in the second quarter worth about $114,788,000. BlackRock Inc. purchased a new stake in shares of Honest in the second quarter valued at approximately $107,115,000. FIL Ltd boosted its stake in shares of Honest by 138.9% in the third quarter. FIL Ltd now owns 2,825,000 shares of the company’s stock worth $29,324,000 after acquiring an additional 1,642,425 shares during the last quarter. ICONIQ Capital LLC acquired a new stake in shares of Honest in the second quarter worth approximately $44,249,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Honest in the second quarter worth approximately $38,811,000. 65.63% of the stock is currently owned by institutional investors and hedge funds.

About Honest

The Honest Company, Inc manufactures and sells baby, personal, and beauty care products. It offers products in the areas of diapers, bath, body, beauty, cleaning, gifts, kids, and clothing. The company serves customers through digital and retail sales channels, such as its website and third-party ecommerce sites, as well as brick and mortar retailers.

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