FY2024 EPS Estimates for Honest Increased by Northland Capmk

The Honest Company, Inc. (NASDAQ:HNST) – Northland Capmk raised their FY2024 earnings estimates for Honest in a report released on Wednesday, November 13th. Northland Capmk analyst O. Rickert now expects that the company will earn ($0.06) per share for the year, up from their previous estimate of ($0.09). Northland Capmk currently 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.

Several other research firms have also recently issued reports on HNST. B. Riley boosted their target price on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Northland Securities boosted their price objective on shares of Honest from $6.50 to $7.50 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Telsey Advisory Group raised their target price on shares of Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 13th. Finally, Alliance Global Partners lifted their target price on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.93.

Honest Price Performance

HNST opened at $7.20 on Monday. Honest has a one year low of $1.47 and a one year high of $7.38. The business has a 50 day simple moving average of $4.03 and a two-hundred day simple moving average of $3.56. The firm has a market capitalization of $726.91 million, a price-to-earnings ratio of -180.00 and a beta of 1.85.

Insider Buying and Selling at Honest

In other Honest news, CEO Carla Vernon sold 52,751 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $225,774.28. Following the completion of the transaction, the chief executive officer now owns 2,828,319 shares of the company’s stock, valued at approximately $12,105,205.32. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total transaction 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. The trade was a 18.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,461,187 shares of company stock valued at $8,739,880. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Honest

A number of institutional investors have recently modified their holdings of HNST. ArrowMark Colorado Holdings LLC raised its position 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. Vanguard Group Inc. raised its holdings in Honest by 10.4% in the first quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock worth $11,549,000 after buying an additional 268,600 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Honest by 3.8% in the third quarter. Geode Capital Management LLC now owns 1,811,621 shares of the company’s stock worth $6,468,000 after buying an additional 65,995 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Honest by 117.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock worth $4,579,000 after buying an additional 846,300 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Honest by 23.0% during the third quarter. State Street Corp now owns 1,181,469 shares of the company’s stock valued at $4,218,000 after buying an additional 220,699 shares during the last quarter. 45.54% of the stock is owned by hedge funds and other institutional investors.

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.