Honest FY2024 EPS Estimate Lifted by Telsey Advisory Group

The Honest Company, Inc. (NASDAQ:HNST) – Research analysts at Telsey Advisory Group lifted their FY2024 earnings per share (EPS) estimates for Honest in a note issued to investors 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 prior forecast of ($0.11). Telsey Advisory Group currently has a “Market Perform” rating and a $6.00 target price 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 several other reports. Northland Securities increased their price objective on shares of Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday. Alliance Global Partners increased their price target on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a report on Wednesday. B. Riley boosted their price objective on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Northland Capmk upgraded Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Honest currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

Honest Stock Performance

NASDAQ:HNST opened at $6.91 on Friday. Honest has a fifty-two week low of $1.40 and a fifty-two week high of $7.14. The company has a 50 day simple moving average of $3.96 and a two-hundred day simple moving average of $3.52. The company has a market capitalization of $697.64 million, a PE ratio of -172.75 and a beta of 1.85.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Honest in the 1st quarter valued at $93,000. Vanguard Group Inc. lifted its position in shares of Honest by 10.4% during the first quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock valued at $11,549,000 after purchasing an additional 268,600 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Honest during the first quarter worth about $359,000. Hillsdale Investment Management Inc. bought a new stake in Honest in the 1st quarter worth about $3,777,000. Finally, EntryPoint Capital LLC purchased a new stake in Honest in the 1st quarter valued at about $27,000. Institutional investors own 45.54% of the company’s stock.

Insider Buying and Selling

In related news, insider Katherine Barton sold 16,185 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $69,271.80. Following the sale, the insider now owns 916,820 shares in the company, valued at $3,923,989.60. This represents a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest 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 transaction, the insider now owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. This trade represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,461,187 shares of company stock valued at $8,739,880. 8.60% of the stock is owned by company 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.