Honest (NASDAQ:HNST) Price Target Lowered to $6.00 at Telsey Advisory Group

Key Points

• Telsey Advisory Group has lowered its price target for Honest (NASDAQ:HNST) from $7.00 to $6.00, indicating a potential upside of 32.74% from the previous close.
• The company reported a $0.03 EPS for the last quarter, missing analysts' expectations by $0.02, despite revenue slightly exceeding estimates at $93.46 million.
• Insider selling includes CEO Carla Vernon and CFO David Loretta, who both sold shares at an average price of $5.32, resulting in a decrease of their ownership percentages.

Honest (NASDAQ:HNST - Get Free Report) had its price objective lowered by Telsey Advisory Group from $7.00 to $6.00 in a research note issued on Thursday, Marketbeat reports. The firm currently has a "market perform" rating on the stock. Telsey Advisory Group's target price points to a potential upside of 52.67% from the stock's current price.

Honest Stock Up 5.1%

Shares of NASDAQ HNST traded up $0.19 during trading on Thursday, hitting $3.93. The company had a trading volume of 7,735,938 shares, compared to its average volume of 4,093,523. The stock has a fifty day simple moving average of $4.74 and a two-hundred day simple moving average of $5.03. Honest has a fifty-two week low of $3.32 and a fifty-two week high of $8.97. The firm has a market capitalization of $437.29 million, a price-to-earnings ratio of 78.62 and a beta of 2.34.

Honest (NASDAQ:HNST - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). Honest had a net margin of 1.66% and a return on equity of 3.84%. The company had revenue of $93.46 million during the quarter, compared to analyst estimates of $92.18 million. On average, analysts anticipate that Honest will post -0.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Brendan Sheehey sold 12,017 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $5.32, for a total value of $63,930.44. Following the transaction, the general counsel directly owned 580,647 shares of the company's stock, valued at approximately $3,089,042.04. This trade represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jonathan Mayle sold 4,788 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $5.32, for a total transaction of $25,472.16. Following the completion of the transaction, the senior vice president directly owned 302,952 shares in the company, valued at approximately $1,611,704.64. This represents a 1.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,726 shares of company stock valued at $881,662. 8.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Honest

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Honest by 11,727.8% during the first quarter. GAMMA Investing LLC now owns 4,258 shares of the company's stock worth $200,000 after purchasing an additional 4,222 shares during the period. Summit Securities Group LLC raised its stake in Honest by 6,101.8% during the first quarter. Summit Securities Group LLC now owns 6,822 shares of the company's stock worth $32,000 after purchasing an additional 6,712 shares during the period. Strategic Blueprint LLC purchased a new position in Honest during the second quarter worth about $52,000. Ethos Financial Group LLC purchased a new position in Honest during the second quarter worth about $62,000. Finally, DRW Securities LLC purchased a new position in Honest during the first quarter worth about $58,000. 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.