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

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 target price cut by stock analysts at Telsey Advisory Group from $7.00 to $6.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a "market perform" rating on the stock. Telsey Advisory Group's target price indicates a potential upside of 49.44% from the stock's current price.

Honest Stock Performance

Shares of HNST traded up $0.08 during mid-day trading on Thursday, reaching $4.02. 2,421,423 shares of the company's stock traded hands, compared to its average volume of 2,794,384. The business's 50-day moving average price is $4.74 and its 200-day moving average price is $5.02. The stock has a market capitalization of $446.75 million, a P/E ratio of 80.32 and a beta of 2.34. Honest has a 12 month low of $3.32 and a 12 month high of $8.97.

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

Insider Buying and Selling at Honest

In other Honest news, CFO David Loretta sold 34,389 shares of Honest stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $5.32, for a total transaction of $182,949.48. Following the transaction, the chief financial officer directly owned 883,153 shares in the company, valued at approximately $4,698,373.96. The trade was a 3.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Carla Vernon sold 98,950 shares of Honest stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $5.32, for a total transaction of $526,414.00. Following the transaction, the chief executive officer owned 3,098,321 shares in the company, valued at approximately $16,483,067.72. The trade was a 3.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,726 shares of company stock valued at $881,662. 8.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Honest

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit Securities Group LLC boosted its stake in shares of Honest by 6,101.8% during the 1st quarter. Summit Securities Group LLC now owns 6,822 shares of the company's stock valued at $32,000 after buying an additional 6,712 shares during the period. Strategic Blueprint LLC acquired a new position in Honest during the second quarter worth $52,000. DRW Securities LLC bought a new position in Honest during the first quarter valued at about $58,000. Ethos Financial Group LLC acquired a new stake in shares of Honest in the second quarter worth about $62,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Honest in the first quarter worth about $64,000. 45.54% of the stock is currently 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.