Honest (NASDAQ:HNST) Cut to “Hold” at Loop Capital

Honest (NASDAQ:HNST) was downgraded by research analysts at Loop Capital from a “buy” rating to a “hold” rating in a research note issued on Tuesday, MarketBeat.com reports. They presently have a $7.00 price target on the stock. Loop Capital’s price objective would suggest a potential upside of 7.36% from the stock’s current price.

A number of other equities analysts have also commented on the company. Telsey Advisory Group lifted their price objective on Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. B. Riley upped their price target on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Alliance Global Partners raised their price objective on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Northland Securities upped their target price on shares of Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Honest currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.79.

Honest Price Performance

Shares of HNST opened at $6.52 on Tuesday. The company has a market capitalization of $658.27 million, a PE ratio of -163.00 and a beta of 2.42. Honest has a one year low of $2.40 and a one year high of $8.97. The company’s fifty day moving average price is $5.83 and its 200 day moving average price is $4.30.

Insiders Place Their Bets

In related news, General Counsel Brendan Sheehey sold 8,392 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total transaction of $59,583.20. Following the completion of the transaction, the general counsel now owns 516,816 shares in the company, valued at $3,669,393.60. This trade represents a 1.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen Winchell sold 7,123 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total value of $50,573.30. Following the completion of the sale, the executive vice president now directly owns 382,613 shares in the company, valued at approximately $2,716,552.30. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 799,818 shares of company stock worth $5,975,421 over the last 90 days. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. ArrowMark Colorado Holdings LLC grew its holdings in shares of Honest by 6.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company’s stock worth $11,295,000 after purchasing an additional 191,547 shares during the last quarter. Geode Capital Management LLC boosted its position in Honest by 3.8% in the third quarter. Geode Capital Management LLC now owns 1,811,621 shares of the company’s stock valued at $6,468,000 after buying an additional 65,995 shares in the last quarter. Renaissance Technologies LLC boosted its position in Honest by 117.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock valued at $4,579,000 after buying an additional 846,300 shares in the last quarter. State Street Corp grew its stake in Honest by 23.0% during the third quarter. State Street Corp now owns 1,181,469 shares of the company’s stock worth $4,218,000 after buying an additional 220,699 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Honest by 68.1% during the second quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock worth $2,755,000 after buying an additional 382,418 shares in the last quarter. 45.54% of the stock is currently owned by institutional investors and hedge funds.

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.