Loop Capital Upgrades Honest (NASDAQ:HNST) to “Buy”

Honest (NASDAQ:HNST) was upgraded by analysts at Loop Capital from a “hold” rating to a “buy” rating in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage presently has a $3.00 price objective on the stock. Loop Capital’s price target points to a potential upside of 3.09% from the company’s previous close.

HNST has been the subject of a number of other research reports. Morgan Stanley lifted their price objective on shares of Honest from $1.85 to $4.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Telsey Advisory Group restated a “market perform” rating and issued a $4.00 price target on shares of Honest in a research note on Thursday, May 9th. Finally, Lake Street Capital started coverage on Honest in a research note on Thursday, April 4th. They issued a “buy” rating and a $6.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $4.55.

Honest Trading Up 11.1 %

Shares of Honest stock opened at $2.91 on Tuesday. Honest has a twelve month low of $1.06 and a twelve month high of $4.89. The firm’s 50-day moving average price is $2.81 and its 200 day moving average price is $3.15. The firm has a market capitalization of $287.04 million, a PE ratio of -12.65 and a beta of 1.83.

Honest (NASDAQ:HNST) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.07. The company had revenue of $86.22 million during the quarter, compared to analysts’ expectations of $83.79 million. Honest had a negative net margin of 6.27% and a negative return on equity of 17.44%. On average, sell-side analysts predict that Honest will post -0.12 EPS for the current fiscal year.

Insider Activity at Honest

In other Honest news, insider Jessica Warren sold 276,113 shares of Honest stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $3.07, for a total value of $847,666.91. Following the transaction, the insider now owns 1,629,124 shares in the company, valued at approximately $5,001,410.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Thomas Sternweis sold 10,047 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $2.77, for a total transaction of $27,830.19. Following the transaction, the senior vice president now directly owns 237,211 shares of the company’s stock, valued at approximately $657,074.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica Warren sold 276,113 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $3.07, for a total transaction of $847,666.91. Following the completion of the transaction, the insider now owns 1,629,124 shares of the company’s stock, valued at $5,001,410.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 667,088 shares of company stock worth $1,986,507. 8.60% of the stock is currently owned by insiders.

Institutional Trading of Honest

Several hedge funds and other institutional investors have recently bought and sold shares of HNST. Green Alpha Advisors LLC boosted its position in Honest by 1.3% during the 1st quarter. Green Alpha Advisors LLC now owns 415,148 shares of the company’s stock worth $1,681,000 after acquiring an additional 5,249 shares during the period. EntryPoint Capital LLC bought a new position in Honest in the 1st quarter valued at about $27,000. Wade G W & Inc. raised its position in shares of Honest by 6.3% during the 4th quarter. Wade G W & Inc. now owns 197,290 shares of the company’s stock worth $651,000 after buying an additional 11,685 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Honest in the 1st quarter worth approximately $52,000. Finally, Virtu Financial LLC boosted its holdings in shares of Honest by 57.4% in the first quarter. Virtu Financial LLC now owns 36,005 shares of the company’s stock valued at $146,000 after acquiring an additional 13,130 shares in the last quarter. 45.54% of the stock is owned by institutional investors.

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.