Honest (NASDAQ:HNST) Raised to “Buy” at Loop Capital

Honest (NASDAQ:HNST) was upgraded by investment analysts at Loop Capital from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Marketbeat reports. The firm currently has a $3.00 price objective on the stock. Loop Capital’s target price would indicate a potential upside of 20.00% from the company’s previous close.

Several other research firms also recently weighed in on HNST. Morgan Stanley boosted their target price on Honest from $1.85 to $4.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $4.00 price objective on shares of Honest in a research note on Thursday, May 9th. Finally, Lake Street Capital started coverage on Honest in a research note on Thursday, April 4th. They set a “buy” rating and a $6.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $4.55.

Honest Stock Performance

NASDAQ:HNST opened at $2.50 on Tuesday. The stock has a 50-day simple moving average of $2.83 and a 200-day simple moving average of $3.15. The stock has a market cap of $246.60 million, a P/E ratio of -10.87 and a beta of 1.84. Honest has a 1 year low of $1.06 and a 1 year high of $4.89.

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

Insider Transactions at Honest

In other news, CEO Carla Vernon sold 43,317 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $2.77, for a total transaction of $119,988.09. Following the completion of the transaction, the chief executive officer now directly owns 2,881,070 shares of the company’s stock, valued at approximately $7,980,563.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Carla Vernon sold 43,317 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $2.77, for a total value of $119,988.09. Following the sale, the chief executive officer now owns 2,881,070 shares in the company, valued at approximately $7,980,563.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Thomas Sternweis sold 10,047 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $2.77, for a total value of $27,830.19. Following the completion of the sale, the senior vice president now owns 237,211 shares in the company, valued at approximately $657,074.47. The disclosure for this sale can be found here. In the last three months, insiders sold 667,088 shares of company stock valued at $1,986,507. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Honest

A number of large investors have recently bought and sold shares of HNST. EntryPoint Capital LLC acquired a new stake in Honest during the 1st quarter valued at $27,000. Lazard Asset Management LLC acquired a new stake in Honest during the 1st quarter valued at $52,000. SG Americas Securities LLC acquired a new stake in Honest during the 1st quarter valued at $93,000. Echo Wealth Management LLC acquired a new stake in shares of Honest during the first quarter worth $101,000. Finally, Barclays PLC acquired a new stake in shares of Honest during the third quarter worth $110,000. Institutional investors and hedge funds 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.