FY2024 EPS Estimates for Honest Lifted by Northland Capmk

The Honest Company, Inc. (NASDAQ:HNST - Free Report) - Equities researchers at Northland Capmk boosted their FY2024 earnings per share estimates for shares of Honest in a research note issued to investors on Wednesday, November 13th. Northland Capmk analyst O. Rickert now expects 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.

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

Honest Price Performance

NASDAQ HNST traded up $0.29 during mid-day trading on Monday, reaching $7.20. The stock had a trading volume of 8,465,894 shares, compared to its average volume of 1,440,627. The stock has a market cap of $726.91 million, a PE ratio of -172.75 and a beta of 1.85. The company has a fifty day moving average price of $3.96 and a 200 day moving average price of $3.53. Honest has a 1 year low of $1.47 and a 1 year high of $7.38.

Hedge Funds Weigh In On Honest

A number of large investors have recently made changes to their positions in the stock. EntryPoint Capital LLC acquired a new stake in shares of Honest in the first quarter worth approximately $27,000. Zacks Investment Management purchased a new stake in shares of Honest during the third quarter valued at approximately $37,000. Creative Planning bought a new stake in shares of Honest in the third quarter worth $39,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Honest in the third quarter worth $40,000. Finally, Panagora Asset Management Inc. bought a new stake in shares of Honest in the second quarter worth $43,000. Hedge funds and other institutional investors own 45.54% of the company's stock.

Insider Activity

In other news, EVP Stephen Winchell sold 6,938 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $29,694.64. Following the completion of the transaction, the executive vice president now owns 414,736 shares in the company, valued at approximately $1,775,070.08. This represents a 1.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company's stock in a transaction on Wednesday, September 18th. The shares were 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 owns 9,869,803 shares of the company's stock, valued at approximately $34,544,310.50. The trade was 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 valued at $8,739,880. Company 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.