Honest (NASDAQ:HNST) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Honest (NASDAQ:HNSTGet Rating) from a sell rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “The Honest Company is a digitally-native, mission-driven brand focused on leading the clean lifestyle movement, creating a community for conscious consumers and seeking to disrupt multiple consumer product categories. They have been dedicated to developing clean, sustainable, effective and thoughtfully designed products. Their integrated multi-category product architecture is intentionally designed to serve their consumers every day, at every age and through every life stage, no matter where they are on their journey. Their three categories are Diapers and Wipes, Skin and Personal Care and Household and Wellness. “

Other equities analysts have also issued reports about the stock. Telsey Advisory Group decreased their price objective on shares of Honest from $18.00 to $12.00 and set an outperform rating for the company in a report on Friday, March 25th. Guggenheim lowered shares of Honest from a buy rating to a neutral rating in a report on Friday, March 25th. Loop Capital decreased their price objective on shares of Honest from $8.00 to $5.00 in a report on Monday, May 16th. Jefferies Financial Group lowered shares of Honest from a buy rating to a hold rating and decreased their price objective for the stock from $11.00 to $5.00 in a report on Friday, March 25th. Finally, Bank of America lowered shares of Honest from a neutral rating to an underperform rating and decreased their target price for the company from $13.00 to $6.50 in a research note on Monday, March 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $11.13.

HNST stock opened at $3.49 on Wednesday. The firm has a 50 day moving average price of $4.23 and a 200-day moving average price of $6.02. Honest has a 52-week low of $2.66 and a 52-week high of $19.94. The firm has a market capitalization of $321.53 million and a price-to-earnings ratio of -7.12.

Honest (NASDAQ:HNSTGet Rating) last announced its quarterly earnings data on Friday, May 13th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Honest had a negative return on equity of 27.61% and a negative net margin of 15.94%. The firm had revenue of $68.70 million during the quarter, compared to analysts’ expectations of $68.93 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. Honest’s revenue was down 15.2% on a year-over-year basis. Analysts forecast that Honest will post -0.29 earnings per share for the current year.

In other news, EVP Glenn Klages sold 10,092 shares of the business’s stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $4.06, for a total transaction of $40,973.52. Following the completion of the sale, the executive vice president now owns 206,369 shares of the company’s stock, valued at approximately $837,858.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Rick Rexing sold 12,042 shares of the business’s stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $4.06, for a total transaction of $48,890.52. Following the sale, the executive now directly owns 209,897 shares of the company’s stock, valued at approximately $852,181.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,929 shares of company stock valued at $851,865. Insiders own 26.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of HNST. BlackRock Inc. boosted its holdings in Honest by 180.6% in the 4th quarter. BlackRock Inc. now owns 4,501,858 shares of the company’s stock worth $36,419,000 after buying an additional 2,897,271 shares during the period. Norges Bank bought a new position in Honest in the 4th quarter worth $13,841,000. FIL Ltd boosted its holdings in Honest by 138.9% in the 3rd quarter. FIL Ltd now owns 2,825,000 shares of the company’s stock worth $29,324,000 after buying an additional 1,642,425 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Honest in the 4th quarter worth $10,625,000. Finally, State Street Corp boosted its holdings in Honest by 174.7% in the 4th quarter. State Street Corp now owns 1,187,252 shares of the company’s stock worth $9,605,000 after buying an additional 755,002 shares during the period. 76.60% of the stock is owned by institutional investors.

About Honest (Get Rating)

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.

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