Honest (NASDAQ:HNST) Upgraded to “Buy” by Loop Capital

Loop Capital upgraded shares of Honest (NASDAQ:HNST) from a hold rating to a buy rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has $3.00 price target on the stock.

HNST has been the subject of a number of other research reports. Morgan Stanley raised their target price on Honest from $1.85 to $4.00 and gave the company an equal weight rating in a research note on Thursday, March 7th. Telsey Advisory Group restated a market perform rating and set a $4.00 target price on shares of Honest in a report on Thursday, May 9th. Finally, Lake Street Capital initiated coverage on shares of Honest in a research report on Thursday, April 4th. They issued a buy rating and a $6.00 target price on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $4.55.

Honest Trading Up 0.3 %

Shares of Honest stock opened at $2.92 on Tuesday. Honest has a 12-month low of $1.06 and a 12-month high of $4.89. The company has a market cap of $288.02 million, a P/E ratio of -12.70 and a beta of 1.83. The company’s fifty day simple moving average is $2.81 and its two-hundred day simple moving average is $3.15.

Honest (NASDAQ:HNST) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.07. Honest had a negative net margin of 6.27% and a negative return on equity of 17.44%. The company had revenue of $86.22 million for the quarter, compared to analysts’ expectations of $83.79 million. Analysts predict that Honest will post -0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Katherine Barton sold 67,930 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $2.77, for a total transaction of $188,166.10. Following the completion of the transaction, the insider now directly owns 933,005 shares in the company, valued at $2,584,423.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Katherine Barton sold 67,930 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $2.77, for a total value of $188,166.10. Following the transaction, the insider now owns 933,005 shares in the company, valued at $2,584,423.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Carla Vernon sold 43,317 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $2.77, for a total transaction of $119,988.09. Following the sale, the chief executive officer now directly owns 2,881,070 shares of the company’s stock, valued at approximately $7,980,563.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 667,088 shares of company stock valued at $1,986,507. 8.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Honest

Several institutional investors have recently modified their holdings of HNST. Green Alpha Advisors LLC lifted 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 during the period. EntryPoint Capital LLC bought a new position in Honest during the first quarter valued at approximately $27,000. Wade G W & Inc. boosted its holdings in Honest by 6.3% in the fourth quarter. Wade G W & Inc. now owns 197,290 shares of the company’s stock worth $651,000 after purchasing an additional 11,685 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Honest in the 1st quarter worth approximately $52,000. Finally, Virtu Financial LLC raised its stake in Honest by 57.4% during the 1st quarter. Virtu Financial LLC now owns 36,005 shares of the company’s stock valued at $146,000 after buying an additional 13,130 shares during the last quarter. 45.54% of the stock is owned by hedge funds and other 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.