FY2024 EPS Estimates for Honest Increased by Northland Capmk

The Honest Company, Inc. (NASDAQ:HNST) – Northland Capmk raised their FY2024 earnings per share (EPS) estimates for Honest in a research note issued on Wednesday, November 13th. Northland Capmk analyst O. Rickert now expects that the company will earn ($0.06) per share for the year, up from their previous estimate of ($0.09). Northland Capmk currently has a “Strong-Buy” rating on the stock. The consensus estimate for Honest’s current full-year earnings is ($0.07) per share. Northland Capmk also issued estimates for Honest’s FY2025 earnings at $0.02 EPS.

Several other analysts have also weighed in on HNST. Northland Securities upped their price objective on Honest from $6.50 to $7.50 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Alliance Global Partners upped their price objective on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. B. Riley upped their price objective on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Telsey Advisory Group upped their price objective on Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Honest presently has a consensus rating of “Moderate Buy” and an average target price of $5.93.

Honest Stock Performance

NASDAQ:HNST opened at $7.32 on Monday. The stock has a market cap of $739.03 million, a price-to-earnings ratio of -183.00 and a beta of 1.85. The business has a fifty day moving average of $4.10 and a 200-day moving average of $3.59. Honest has a 1 year low of $1.47 and a 1 year high of $7.57.

Institutional Investors Weigh In On Honest

Several hedge funds have recently modified their holdings of HNST. Harbor Capital Advisors Inc. boosted its position in Honest by 122.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 219,697 shares of the company’s stock worth $784,000 after acquiring an additional 120,937 shares during the period. Mainstream Capital Management LLC acquired a new stake in Honest during the 3rd quarter worth about $843,000. Inspire Investing LLC acquired a new stake in Honest during the 3rd quarter worth about $806,000. Dimensional Fund Advisors LP boosted its position in Honest by 68.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock worth $2,755,000 after acquiring an additional 382,418 shares during the period. Finally, Vanguard Group Inc. boosted its position in Honest by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock worth $11,549,000 after acquiring an additional 268,600 shares during the period. 45.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the completion of the sale, the insider now directly owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. This represents a 18.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 8.60% of the stock is currently owned by company insiders.

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.