Telsey Advisory Group Raises Earnings Estimates for Honest

The Honest Company, Inc. (NASDAQ:HNST) – Analysts at Telsey Advisory Group raised their FY2024 earnings per share (EPS) estimates for shares of Honest in a research report issued on Wednesday, November 13th. Telsey Advisory Group analyst D. Telsey now forecasts that the company will earn ($0.07) per share for the year, up from their prior estimate of ($0.11). Telsey Advisory Group has a “Market Perform” rating and a $6.00 price objective 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 topic of a number of other research reports. B. Riley increased their price target on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday. Alliance Global Partners increased their target price on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday. Northland Capmk raised Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, Northland Securities increased their target price on Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday. Two research 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, Honest currently has a consensus rating of “Moderate Buy” and an average price target of $5.93.

Honest Price Performance

Shares of Honest stock opened at $6.50 on Friday. Honest has a fifty-two week low of $1.40 and a fifty-two week high of $6.77. The business’s fifty day moving average is $3.91 and its two-hundred day moving average is $3.49.

Hedge Funds Weigh In On Honest

A number of hedge funds have recently bought and sold shares of HNST. EntryPoint Capital LLC acquired a new position in Honest in the first quarter worth about $27,000. Creative Planning acquired a new position in Honest in the third quarter worth about $39,000. Wealth Enhancement Advisory Services LLC acquired a new position in Honest in the third quarter valued at approximately $40,000. Panagora Asset Management Inc. acquired a new position in Honest in the second quarter valued at approximately $43,000. Finally, Lazard Asset Management LLC bought a new position in shares of Honest during the first quarter valued at approximately $52,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Stephen Winchell sold 6,938 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $29,694.64. Following the completion of the sale, the executive vice president now directly owns 414,736 shares in the company, valued at $1,775,070.08. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Brendan Sheehey sold 8,176 shares of the firm’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 $34,993.28. Following the sale, the general counsel now owns 517,861 shares of the company’s stock, valued at $2,216,445.08. This represents a 1.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,461,187 shares of company stock worth $8,739,880 over the last ninety days. 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.