FY2024 EPS Estimates for Honest Boosted by Northland Capmk

The Honest Company, Inc. (NASDAQ:HNST) – Equities research analysts at Northland Capmk boosted their FY2024 EPS estimates for shares of Honest in a research report issued to clients and 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 prior 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.

Other research analysts also recently issued research reports about the company. Alliance Global Partners raised their target price on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Telsey Advisory Group raised 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. Northland Securities upped their target price on shares of Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, B. Riley raised their price target on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.93.

Honest Stock Performance

Shares of NASDAQ HNST opened at $7.20 on Monday. Honest has a fifty-two week low of $1.47 and a fifty-two week high of $7.38. The stock has a market cap of $726.91 million, a PE ratio of -180.00 and a beta of 1.85. The stock has a fifty day moving average of $4.03 and a 200-day moving average of $3.56.

Institutional Inflows and Outflows

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

Insiders Place Their Bets

In other Honest news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the sale, the insider now owns 9,869,803 shares in the company, valued at $34,544,310.50. This trade represents a 18.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David Loretta sold 75,656 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $323,807.68. Following the completion of the transaction, the chief financial officer now owns 987,757 shares of the company’s stock, valued at $4,227,599.96. The trade was a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,461,187 shares of company stock valued at $8,739,880 in the last quarter. Corporate insiders own 8.60% of the company’s stock.

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.