Telsey Advisory Group Predicts Increased Earnings for Honest

The Honest Company, Inc. (NASDAQ:HNST - Free Report) - Telsey Advisory Group raised their FY2024 EPS estimates for shares of Honest in a note issued to investors on Wednesday, November 13th. Telsey Advisory Group analyst D. Telsey now forecasts that the company will post earnings per share of ($0.07) for the year, up from their previous forecast of ($0.11). Telsey Advisory Group has a "Market Perform" rating and a $6.00 price target 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 research firms have also weighed in on HNST. Northland Securities lifted their price objective on shares of Honest from $6.50 to $7.50 and gave the company an "outperform" rating in a research note on Wednesday. B. Riley upped their target price on shares of Honest from $6.50 to $7.00 and gave the stock a "buy" rating in a research note on Wednesday. Northland Capmk upgraded shares of Honest to a "strong-buy" rating in a research note on Tuesday, August 6th. Finally, Alliance Global Partners upped their target price on shares of Honest from $5.75 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $5.93.

Honest Stock Performance

Shares of NASDAQ HNST traded up $0.41 during midday trading on Friday, reaching $6.91. The stock had a trading volume of 6,923,637 shares, compared to its average volume of 1,408,906. The firm has a market cap of $697.64 million, a price-to-earnings ratio of -172.75 and a beta of 1.85. Honest has a twelve month low of $1.40 and a twelve month high of $7.14. The company's 50 day moving average price is $3.96 and its 200 day moving average price is $3.52.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. increased its position in shares of Honest by 122.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 219,697 shares of the company's stock valued at $784,000 after purchasing an additional 120,937 shares during the last quarter. Mainstream Capital Management LLC bought a new position in Honest in the 3rd quarter valued at $843,000. Inspire Investing LLC bought a new position in Honest in the 3rd quarter valued at $806,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Honest in the 1st quarter worth $3,777,000. Finally, Dimensional Fund Advisors LP lifted 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 buying an additional 382,418 shares during the period. 45.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO David Loretta sold 75,656 shares of the business'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 value of $323,807.68. Following the transaction, the chief financial officer now directly owns 987,757 shares of the company's stock, valued at approximately $4,227,599.96. The trade was a 7.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephen Winchell sold 6,938 shares of the business'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 value of $29,694.64. Following the completion of the transaction, the executive vice president now directly owns 414,736 shares in the company, valued at approximately $1,775,070.08. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,461,187 shares of company stock worth $8,739,880 over the last three months. 8.60% of the stock is currently owned by corporate insiders.

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.