Telsey Advisory Group Expects Stronger Earnings for Honest

The Honest Company, Inc. (NASDAQ:HNST) – Equities research analysts at Telsey Advisory Group boosted their FY2024 earnings per share (EPS) estimates for Honest in a report released on Wednesday, November 13th. Telsey Advisory Group analyst D. Telsey now expects 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.

HNST has been the subject of a number of other research reports. Northland Capmk upgraded Honest to a “strong-buy” rating in a report on Tuesday, August 6th. Northland Securities upped their target price on shares of Honest from $6.50 to $7.50 and gave the company 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 company a “buy” rating in a report on Wednesday. Finally, B. Riley raised their price objective on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.93.

Honest Price Performance

HNST opened at $6.91 on Friday. The firm has a 50 day simple moving average of $3.96 and a 200 day simple moving average of $3.52. Honest has a fifty-two week low of $1.40 and a fifty-two week high of $7.14. The company has a market cap of $697.64 million, a price-to-earnings ratio of -172.75 and a beta of 1.85.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC acquired a new stake in Honest during the 1st quarter worth approximately $27,000. Zacks Investment Management bought a new stake in shares of Honest in the 3rd quarter valued at $37,000. Creative Planning bought a new position in Honest during the third quarter worth $39,000. Wealth Enhancement Advisory Services LLC bought a new stake in Honest during the third quarter valued at $40,000. Finally, Panagora Asset Management Inc. acquired a new stake in Honest during the 2nd quarter worth about $43,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total value 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. This represents a 18.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Brendan Sheehey sold 8,176 shares of Honest stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $34,993.28. Following the sale, the general counsel now directly owns 517,861 shares in the company, valued at $2,216,445.08. This trade represents a 1.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,461,187 shares of company stock valued at $8,739,880 over the last 90 days. 8.60% of the stock is owned by corporate insiders.

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.