FY2024 EPS Estimates for Honest Raised by Northland Capmk

The Honest Company, Inc. (NASDAQ:HNST) – Analysts at Northland Capmk raised their FY2024 EPS estimates for Honest in a research report issued on Wednesday, November 13th. Northland Capmk analyst O. Rickert now expects that the company will post earnings of ($0.06) per share for the year, up from their previous forecast 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.

HNST has been the subject of a number of other reports. Alliance Global Partners increased their target price on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Northland Securities increased their price objective on Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. B. Riley raised their target price 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 target on shares of Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.93.

Honest Stock Up 6.3 %

NASDAQ HNST opened at $6.91 on Monday. Honest has a 52-week low of $1.40 and a 52-week high of $7.14. The firm has a 50-day moving average price of $3.96 and a 200 day moving average price of $3.53. The stock has a market capitalization of $697.63 million, a P/E ratio of -172.75 and a beta of 1.85.

Insiders Place Their Bets

In other news, CFO David Loretta sold 75,656 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $323,807.68. Following the sale, the chief financial officer now directly owns 987,757 shares in the company, valued at $4,227,599.96. This represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total value of $8,050,000.00. Following the transaction, the insider now 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,461,187 shares of company stock worth $8,739,880. 8.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Honest

A number of large investors have recently bought and sold shares of HNST. SG Americas Securities LLC purchased a new stake in shares of Honest in the first quarter valued at $93,000. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 268,600 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Honest during the first quarter worth about $359,000. EntryPoint Capital LLC acquired a new position in shares of Honest in the first quarter valued at approximately $27,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Honest in the first quarter valued at approximately $178,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.