FY2024 EPS Estimates for Honest Increased by Northland Capmk

The Honest Company, Inc. (NASDAQ:HNST) – Research analysts at Northland Capmk boosted their FY2024 earnings per share estimates for shares of Honest in a research note issued on Wednesday, November 13th. Northland Capmk analyst O. Rickert now forecasts that the company will post earnings of ($0.06) per share for the year, up from their previous estimate of ($0.09). Northland Capmk has a “Strong-Buy” rating on the stock. The consensus estimate for Honest’s current full-year earnings is ($0.07) per share. Northland Capmk also issued estimates for Honest’s FY2025 earnings at $0.02 EPS.

Several other equities analysts have also commented on HNST. B. Riley boosted their price target on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Alliance Global Partners upped their target price on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Northland Securities upped their target price on Honest from $6.50 to $7.50 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Telsey Advisory Group upped their target price on Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.93.

Honest Stock Performance

Honest stock opened at $7.32 on Monday. The stock’s 50 day moving average price is $4.10 and its 200 day moving average price is $3.59. The firm has a market capitalization of $739.03 million, a PE ratio of -183.00 and a beta of 1.85. Honest has a one year low of $1.47 and a one year high of $7.57.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HNST. Renaissance Technologies LLC grew its stake in Honest by 117.3% during 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 during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Honest by 1,504.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 851,436 shares of the company’s stock worth $3,040,000 after buying an additional 798,384 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Honest by 706.1% in the second quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock worth $2,088,000 after purchasing an additional 627,464 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Honest by 68.1% in the second quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock worth $2,755,000 after purchasing an additional 382,418 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Honest by 216.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,323 shares of the company’s stock worth $1,947,000 after purchasing an additional 372,749 shares in the last quarter. 45.54% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the completion of the transaction, the insider now directly owns 9,869,803 shares in the company, valued at $34,544,310.50. This represents a 18.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.60% 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.