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

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

A number of other equities analysts have also recently weighed in on HNST. Morgan Stanley upped their price objective on shares of Honest from $1.85 to $4.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. Telsey Advisory Group reissued a “market perform” rating and issued a $4.00 price objective on shares of Honest in a report on Wednesday, April 10th. Alliance Global Partners started coverage on Honest in a report on Tuesday, February 6th. They set a “buy” rating and a $5.75 target price on the stock. Finally, Lake Street Capital assumed coverage on Honest in a report on Thursday, April 4th. They issued a “buy” rating and a $6.00 price target for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.55.

Honest Price Performance

NASDAQ HNST traded down $0.05 during trading hours on Friday, hitting $3.01. The company had a trading volume of 313,342 shares, compared to its average volume of 985,638. The firm’s 50 day moving average is $3.66 and its 200 day moving average is $2.70. 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 has a fifty-two week low of $1.06 and a fifty-two week high of $4.89.

Honest (NASDAQ:HNST) last announced its earnings results on Wednesday, March 6th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.09. Honest had a negative return on equity of 30.36% and a negative net margin of 11.39%. The business had revenue of $90.26 million for the quarter, compared to the consensus estimate of $83.54 million. On average, equities analysts anticipate that Honest will post -0.18 EPS for the current year.

Insider Activity

In related news, CEO Carla Vernon sold 209,160 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $4.16, for a total transaction of $870,105.60. Following the completion of the transaction, the chief executive officer now directly owns 2,924,387 shares in the company, valued at approximately $12,165,449.92. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, General Counsel Brendan Sheehey sold 21,152 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $3.24, for a total value of $68,532.48. Following the sale, the general counsel now owns 534,620 shares of the company’s stock, valued at approximately $1,732,168.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Carla Vernon sold 209,160 shares of Honest stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $4.16, for a total transaction of $870,105.60. Following the completion of the sale, the chief executive officer now owns 2,924,387 shares in the company, valued at $12,165,449.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 273,301 shares of company stock valued at $1,077,922. 14.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HNST. Cannon Global Investment Management LLC bought a new stake in Honest during the 1st quarter valued at $122,000. Green Alpha Advisors LLC increased its holdings in shares of Honest by 1.3% during the first quarter. Green Alpha Advisors LLC now owns 415,148 shares of the company’s stock valued at $1,681,000 after purchasing an additional 5,249 shares during the period. Vanguard Group Inc. raised its stake in shares of Honest by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 2,582,901 shares of the company’s stock valued at $8,524,000 after purchasing an additional 149,711 shares in the last quarter. Virtu Financial LLC acquired a new stake in Honest in the fourth quarter worth about $75,000. Finally, Wexford Capital LP bought a new position in Honest in the 4th quarter valued at about $77,000. Institutional investors 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.