Honest (NASDAQ:HNST) Now Covered by Lake Street Capital

Stock analysts at Lake Street Capital initiated coverage on shares of Honest (NASDAQ:HNST) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating and a $6.00 price target on the stock. Lake Street Capital’s target price indicates a potential upside of 58.31% from the stock’s previous close.

Several other research firms also recently weighed in on HNST. Telsey Advisory Group upped their price target on Honest from $2.00 to $4.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Loop Capital upped their price target on shares of Honest from $4.00 to $5.00 and gave the stock a “hold” rating in a research note on Thursday, March 14th. Alliance Global Partners began coverage on shares of Honest in a research note on Tuesday, February 6th. They set a “buy” rating and a $5.75 price objective for the company. Finally, Morgan Stanley upped their target price on shares of Honest from $1.85 to $4.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.95.

Honest Stock Down 1.0 %

NASDAQ HNST opened at $3.79 on Thursday. The firm has a market capitalization of $363.35 million, a PE ratio of -9.02 and a beta of 1.83. The stock’s 50 day moving average is $3.60 and its 200 day moving average is $2.57. Honest has a twelve month low of $1.06 and a twelve month high of $4.89.

Honest (NASDAQ:HNST) last released its earnings results on Wednesday, March 6th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. Honest had a negative net margin of 11.39% and a negative return on equity of 30.36%. The firm had revenue of $90.26 million for the quarter, compared to the consensus estimate of $83.54 million. On average, research analysts anticipate that Honest will post -0.18 earnings per share for the current year.

Insider Activity

In related news, General Counsel Brendan Sheehey sold 21,152 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $3.24, for a total value of $68,532.48. Following the sale, the general counsel now owns 534,620 shares in the company, valued at $1,732,168.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Honest news, EVP Stephen Winchell sold 19,665 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $3.24, for a total transaction of $63,714.60. Following the sale, the executive vice president now owns 428,957 shares in the company, valued at approximately $1,389,820.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Brendan Sheehey sold 21,152 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $3.24, for a total value of $68,532.48. Following the completion of the sale, the general counsel now owns 534,620 shares of the company’s stock, valued at approximately $1,732,168.80. The disclosure for this sale can be found here. Insiders have sold a total of 273,301 shares of company stock valued at $1,077,922 in the last 90 days. 14.60% of the stock is currently owned by insiders.

Institutional Trading of Honest

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Honest by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 2,582,901 shares of the company’s stock valued at $8,524,000 after buying an additional 149,711 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Honest during the 4th quarter valued at approximately $75,000. Wexford Capital LP purchased a new stake in Honest during the 4th quarter valued at $77,000. Pathstone Holdings LLC bought a new stake in Honest in the fourth quarter worth $663,000. Finally, Balyasny Asset Management L.P. purchased a new position in Honest during the fourth quarter worth $434,000. 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.