Loop Capital Lowers Honest (NASDAQ:HNST) Price Target to $3.00

Honest (NASDAQ:HNST) had its price target lowered by equities research analysts at Loop Capital from $5.00 to $3.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the stock. Loop Capital’s price target would indicate a potential downside of 0.33% from the stock’s current price.

Several other research firms also recently commented on HNST. Lake Street Capital started coverage on Honest in a research note on Thursday, April 4th. They issued a “buy” rating and a $6.00 price objective for the company. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $4.00 price target on shares of Honest in a report on Wednesday, April 10th. Alliance Global Partners initiated coverage on shares of Honest in a report on Tuesday, February 6th. They issued a “buy” rating and a $5.75 price objective for the company. Finally, Morgan Stanley lifted 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.55.

Honest Trading Down 1.6 %

HNST traded down $0.05 during midday trading on Friday, hitting $3.01. 313,342 shares of the company traded hands, compared to its average volume of 985,638. The business has a 50 day simple moving average of $3.66 and a two-hundred day simple moving average of $2.70. Honest has a 52-week low of $1.06 and a 52-week high of $4.89. The company has a market capitalization of $292.06 million, a price-to-earnings ratio of -7.19 and a beta of 1.83.

Honest (NASDAQ:HNST) last issued its quarterly earnings results on Wednesday, March 6th. The company reported $0.01 earnings per share for the quarter, beating 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 analyst estimates of $83.54 million. Equities research analysts anticipate that Honest will post -0.18 earnings per share for the current year.

Insider Transactions at Honest

In other Honest news, CEO Carla Vernon sold 209,160 shares of Honest stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $4.16, for a total value of $870,105.60. Following the completion of the transaction, the chief executive officer now directly owns 2,924,387 shares of the company’s stock, valued at approximately $12,165,449.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Brendan Sheehey sold 21,152 shares of Honest 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 transaction, the general counsel now directly owns 534,620 shares in the company, valued at $1,732,168.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Carla Vernon sold 209,160 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $4.16, for a total value of $870,105.60. Following the sale, the chief executive officer now owns 2,924,387 shares in the company, valued at approximately $12,165,449.92. The disclosure for this sale can be found here. Insiders sold a total of 273,301 shares of company stock worth $1,077,922 over the last ninety days. Company insiders own 14.60% of the company’s stock.

Institutional Trading of Honest

Several hedge funds have recently added to or reduced their stakes in HNST. Swiss National Bank lifted its holdings in Honest by 8.4% during the 1st quarter. Swiss National Bank now owns 64,600 shares of the company’s stock worth $337,000 after buying an additional 5,000 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Honest by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 216,124 shares of the company’s stock valued at $1,126,000 after purchasing an additional 7,901 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Honest by 55.4% during the first quarter. MetLife Investment Management LLC now owns 51,808 shares of the company’s stock worth $270,000 after purchasing an additional 18,473 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Honest by 20.4% during the 1st quarter. Rhumbline Advisers now owns 88,687 shares of the company’s stock worth $462,000 after buying an additional 15,023 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Honest by 82.6% in the 1st quarter. Federated Hermes Inc. now owns 12,361 shares of the company’s stock valued at $64,000 after buying an additional 5,590 shares in the last quarter. Institutional investors and hedge funds 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.