Telsey Advisory Group Lifts Earnings Estimates for Honest

The Honest Company, Inc. (NASDAQ:HNST) – Equities research analysts at Telsey Advisory Group upped their FY2024 earnings estimates for shares of Honest in a report issued on Wednesday, November 13th. Telsey Advisory Group analyst D. Telsey now forecasts that the company will post earnings of ($0.07) per share for the year, up from their previous estimate of ($0.11). Telsey Advisory Group currently has a “Market Perform” rating and a $6.00 target price on the stock. The consensus estimate for Honest’s current full-year earnings is ($0.10) per share. Telsey Advisory Group also issued estimates for Honest’s FY2025 earnings at $0.00 EPS.

Several other equities research analysts have also commented on HNST. Alliance Global Partners raised their price target on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday. Northland Securities upped their price objective on shares of Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a report on Wednesday. B. Riley raised their target price on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Northland Capmk upgraded shares of Honest to a “strong-buy” rating in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.93.

Honest Stock Performance

Shares of HNST opened at $6.91 on Friday. Honest has a 1 year low of $1.40 and a 1 year high of $7.14. The firm has a fifty day moving average of $3.96 and a 200-day moving average of $3.52. The company has a market cap of $697.64 million, a price-to-earnings ratio of -172.75 and a beta of 1.85.

Institutional Trading of Honest

Institutional investors have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. acquired a new stake in shares of Honest in the first quarter worth $3,777,000. Renaissance Technologies LLC raised its holdings in shares of Honest by 117.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock worth $4,579,000 after buying an additional 846,300 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Honest by 1,504.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 851,436 shares of the company’s stock valued at $3,040,000 after acquiring an additional 798,384 shares during the period. Acadian Asset Management LLC lifted its holdings in Honest by 706.1% during the 2nd quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock valued at $2,088,000 after purchasing an additional 627,464 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Honest by 68.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock worth $2,755,000 after acquiring an additional 382,418 shares in the last quarter. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Carla Vernon sold 52,751 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $225,774.28. Following the completion of the sale, the chief executive officer now directly owns 2,828,319 shares in the company, valued at approximately $12,105,205.32. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total value of $8,050,000.00. Following the completion of the transaction, the insider now owns 9,869,803 shares in the company, valued at $34,544,310.50. This trade represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,461,187 shares of company stock worth $8,739,880. Corporate insiders own 8.60% 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.