The Honest Company, Inc. (NASDAQ:HNST – Get Rating) – Equities researchers at Telsey Advisory Group boosted their FY2022 EPS estimates for shares of Honest in a research note issued to investors on Monday, May 16th. Telsey Advisory Group analyst D. Telsey now forecasts that the company will post earnings of ($0.33) per share for the year, up from their prior forecast of ($0.34). Telsey Advisory Group currently has a “Outperform” rating and a $12.00 price target on the stock. Telsey Advisory Group also issued estimates for Honest’s Q4 2022 earnings at ($0.04) EPS and FY2023 earnings at ($0.20) EPS.
A number of other equities research analysts have also issued reports on HNST. Bank of America lowered Honest from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $13.00 to $6.50 in a research report on Monday, March 28th. Guggenheim cut Honest from a “buy” rating to a “neutral” rating in a report on Friday, March 25th. Jefferies Financial Group lowered Honest from a “buy” rating to a “hold” rating and reduced their price target for the stock from $11.00 to $5.00 in a report on Friday, March 25th. Loop Capital dropped their price objective on shares of Honest from $8.00 to $5.00 in a report on Monday. Finally, Zacks Investment Research downgraded shares of Honest from a “hold” rating to a “sell” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.13.
Honest (NASDAQ:HNST – Get Rating) last released its quarterly earnings results on Friday, May 13th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Honest had a negative return on equity of 27.20% and a negative net margin of 15.94%. The company had revenue of $68.70 million for the quarter, compared to analyst estimates of $68.93 million. During the same quarter last year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis.
In other Honest news, insider Jasmin Manner sold 10,363 shares of the stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $4.06, for a total transaction of $42,073.78. Following the sale, the insider now directly owns 127,067 shares in the company, valued at approximately $515,892.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jessica Warren sold 34,003 shares of the business’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $3.58, for a total transaction of $121,730.74. Following the completion of the transaction, the insider now owns 620,666 shares of the company’s stock, valued at approximately $2,221,984.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 188,572 shares of company stock valued at $749,293. Company insiders own 26.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HNST. Point72 Hong Kong Ltd purchased a new stake in shares of Honest during the first quarter worth approximately $61,000. Royal Bank of Canada increased its position in shares of Honest by 2.0% in the 1st quarter. Royal Bank of Canada now owns 416,293 shares of the company’s stock valued at $2,168,000 after purchasing an additional 8,086 shares during the last quarter. State Street Corp raised its holdings in shares of Honest by 12.2% in the 1st quarter. State Street Corp now owns 1,331,813 shares of the company’s stock valued at $6,939,000 after purchasing an additional 144,561 shares in the last quarter. Prelude Capital Management LLC lifted its position in shares of Honest by 89.0% during the 1st quarter. Prelude Capital Management LLC now owns 42,155 shares of the company’s stock worth $220,000 after purchasing an additional 19,855 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Honest during the first quarter worth $99,000. 76.60% of the stock is owned by hedge funds and other institutional investors.
Honest Company Profile (Get Rating)
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.
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