Honest (NASDAQ:HNST) Given Market Perform Rating at Telsey Advisory Group

Honest (NASDAQ:HNST)‘s stock had its “market perform” rating reissued by Telsey Advisory Group in a research note issued to investors on Thursday,Benzinga reports. They currently have a $7.00 target price on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 23.24% from the company’s current price.

Other equities analysts have also issued reports about the company. B. Riley lifted their price objective on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Northland Securities lifted their price target on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Alliance Global Partners increased their price objective on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Loop Capital downgraded shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective on the stock. in a research note on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.93.

Honest Stock Performance

Shares of HNST stock opened at $5.68 on Thursday. The stock’s 50 day simple moving average is $6.33 and its 200 day simple moving average is $5.44. Honest has a twelve month low of $2.40 and a twelve month high of $8.97. The company has a market capitalization of $573.46 million, a price-to-earnings ratio of -142.00 and a beta of 2.43.

Honest (NASDAQ:HNST) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. The business had revenue of $99.84 million during the quarter, compared to analysts’ expectations of $96.46 million. On average, analysts forecast that Honest will post -0.07 EPS for the current fiscal year.

Insider Activity at Honest

In other Honest news, Director Jessica Warren sold 465,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total value of $3,510,750.00. Following the sale, the director now owns 1,170,058 shares of the company’s stock, valued at $8,833,937.90. The trade was a 28.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Honest

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Honest by 25.7% during the fourth quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company’s stock worth $35,671,000 after purchasing an additional 1,052,305 shares during the period. ArrowMark Colorado Holdings LLC lifted its position in shares of Honest by 6.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company’s stock worth $11,295,000 after buying an additional 191,547 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in Honest by 589.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,397,636 shares of the company’s stock valued at $16,616,000 after buying an additional 2,049,981 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Honest by 20.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,372,200 shares of the company’s stock valued at $16,439,000 after buying an additional 398,603 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in Honest by 103.5% in the fourth quarter. Nuveen Asset Management LLC now owns 2,046,868 shares of the company’s stock valued at $14,185,000 after acquiring an additional 1,041,040 shares during the period. 45.54% of the stock is currently owned by institutional investors and hedge funds.

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.