Telsey Advisory Group Raises Earnings Estimates for Honest

The Honest Company, Inc. (NASDAQ:HNST) – Equities researchers at Telsey Advisory Group upped their FY2024 earnings per share estimates for Honest in a report released 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.

A number of other research firms also recently commented on HNST. Northland Securities boosted their price objective on Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a research note on Wednesday. Alliance Global Partners boosted their price target on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday. Northland Capmk upgraded shares of Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, B. Riley boosted their price target on shares of Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

Honest Stock Performance

Shares of NASDAQ HNST opened at $6.50 on Friday. The firm’s 50-day simple moving average is $3.91 and its 200 day simple moving average is $3.49. Honest has a fifty-two week low of $1.40 and a fifty-two week high of $6.77.

Insider Buying and Selling

In other news, CEO Carla Vernon sold 52,751 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,828,319 shares in the company, valued at $12,105,205.32. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total value of $8,050,000.00. Following the transaction, the insider now owns 9,869,803 shares of the company’s stock, valued at approximately $34,544,310.50. This trade represents a 18.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,461,187 shares of company stock worth $8,739,880. 8.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Honest during the first quarter valued at approximately $93,000. Vanguard Group Inc. increased its position in shares of Honest by 10.4% during the first quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock valued at $11,549,000 after purchasing an additional 268,600 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Honest during the first quarter valued at approximately $359,000. Hillsdale Investment Management Inc. bought a new stake in shares of Honest during the first quarter valued at approximately $3,777,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Honest during the first quarter valued at approximately $27,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

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.