Loop Capital Trims Honest (NASDAQ:HNST) Target Price to $3.00

Honest (NASDAQ:HNST) had its price objective reduced by Loop Capital from $5.00 to $3.00 in a research note published on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

HNST has been the subject of a number of other reports. Lake Street Capital assumed coverage on shares of Honest in a research report on Thursday, April 4th. They set a buy rating and a $6.00 target price for the company. Alliance Global Partners initiated coverage on shares of Honest in a research report on Tuesday, February 6th. They issued a buy rating and a $5.75 price objective for the company. Morgan Stanley upped their price objective 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. Finally, Telsey Advisory Group reiterated a market perform rating and issued a $4.00 price objective on shares of Honest in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $4.55.

Honest Price Performance

NASDAQ HNST opened at $3.03 on Friday. The company has a market capitalization of $294.00 million, a PE ratio of -7.21 and a beta of 1.83. The company has a fifty day moving average of $3.65 and a 200 day moving average of $2.73. Honest has a 1 year low of $1.06 and a 1 year high of $4.89.

Honest (NASDAQ:HNST) last posted 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 company had revenue of $90.26 million during the quarter, compared to the consensus estimate of $83.54 million. Honest had a negative net margin of 11.39% and a negative return on equity of 30.36%. Research analysts expect that Honest will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Carla Vernon sold 209,160 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $4.16, for a total transaction of $870,105.60. Following the completion of the sale, the chief executive officer now owns 2,924,387 shares of the company’s stock, valued at $12,165,449.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Carla Vernon sold 209,160 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $4.16, for a total transaction of $870,105.60. Following the completion of the sale, the chief executive officer now owns 2,924,387 shares of the company’s stock, valued at $12,165,449.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica Warren sold 276,113 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $3.07, for a total transaction of $847,666.91. Following the sale, the insider now directly owns 1,629,124 shares of the company’s stock, valued at approximately $5,001,410.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 803,229 shares of company stock worth $2,684,496. Company insiders own 14.60% of the company’s stock.

Institutional Trading of Honest

A number of institutional investors and hedge funds have recently modified their holdings of HNST. Rhumbline Advisers grew its stake in Honest by 4.0% during the 2nd quarter. Rhumbline Advisers now owns 92,277 shares of the company’s stock valued at $269,000 after acquiring an additional 3,590 shares in the last quarter. Swiss National Bank grew its stake in Honest by 8.4% during the 1st quarter. Swiss National Bank now owns 64,600 shares of the company’s stock valued at $337,000 after acquiring an additional 5,000 shares in the last quarter. Raymond James & Associates grew its stake in Honest by 19.0% during the 4th quarter. Raymond James & Associates now owns 31,476 shares of the company’s stock valued at $95,000 after acquiring an additional 5,019 shares in the last quarter. Green Alpha Advisors LLC grew its stake in Honest by 1.3% during the 1st quarter. Green Alpha Advisors LLC now owns 415,148 shares of the company’s stock valued at $1,681,000 after acquiring an additional 5,249 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in Honest by 37.4% during the 2nd quarter. Bank of Montreal Can now owns 19,383 shares of the company’s stock valued at $61,000 after acquiring an additional 5,275 shares in the last quarter. Hedge funds and other 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.