Honest (NASDAQ:HNST) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Honest (NASDAQ:HNST) from a sell rating to a hold rating in a research report sent to investors on Sunday morning.

A number of other equities analysts also recently weighed in on HNST. Telsey Advisory Group reaffirmed a “market perform” rating and set a $3.00 price target on shares of Honest in a research report on Thursday, February 26th. Morgan Stanley set a $3.00 price objective on shares of Honest in a research report on Wednesday, March 4th. Zacks Research cut shares of Honest from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 25th. Weiss Ratings reissued a “sell (d+)” rating on shares of Honest in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Honest in a research report on Friday, January 16th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $3.00.

Honest Price Performance

NASDAQ HNST opened at $2.74 on Friday. The firm has a market cap of $308.17 million, a P/E ratio of -19.57 and a beta of 2.26. The stock’s 50-day moving average is $2.50 and its 200-day moving average is $3.00. Honest has a one year low of $2.07 and a one year high of $5.55.

Honest (NASDAQ:HNST) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.23). The company had revenue of $88.04 million for the quarter, compared to the consensus estimate of $88.57 million. Honest had a positive return on equity of 4.57% and a negative net margin of 4.22%. Equities analysts anticipate that Honest will post -0.07 EPS for the current year.

Honest announced that its Board of Directors has initiated a stock buyback plan on Friday, February 20th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the company to purchase up to 9.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Honest

In other Honest news, CEO Carla Vernon sold 129,335 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $2.85, for a total transaction of $368,604.75. Following the transaction, the chief executive officer owned 4,065,546 shares of the company’s stock, valued at $11,586,806.10. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Brendan Sheehey sold 22,556 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $2.85, for a total value of $64,284.60. Following the completion of the sale, the general counsel owned 725,672 shares in the company, valued at approximately $2,068,165.20. This trade represents a 3.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 191,894 shares of company stock valued at $546,898 in the last three months. Corporate insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HNST. Caitong International Asset Management Co. Ltd increased its position in Honest by 1,392.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,073 shares of the company’s stock worth $26,000 after buying an additional 6,599 shares during the period. Amicus Financial Advisors LLC acquired a new stake in Honest in the 4th quarter worth about $29,000. Wealthcare Advisory Partners LLC acquired a new stake in Honest in the 4th quarter worth about $32,000. Hibernia Wealth Partners LLC bought a new stake in Honest in the 4th quarter valued at about $32,000. Finally, Equity Wealth Partners LLC acquired a new position in shares of Honest during the 3rd quarter worth approximately $37,000. 45.54% of the stock is owned by institutional investors.

About Honest

The Honest Company, Inc (NASDAQ: HNST) is an American consumer goods firm specializing in eco-friendly and responsibly formulated products for babies, personal care, beauty and home cleaning. The company emphasizes transparency in ingredient sourcing and product safety, positioning itself in the premium segment of mass-market retail and direct-to-consumer channels.

Honest was founded in 2011 by actress Jessica Alba and environmental health advocate Christopher Gavigan with a mission to offer parents household and baby care items free from harsh chemicals and synthetic fragrances.