Loop Capital Cuts Honest (NASDAQ:HNST) Price Target to $3.00

Honest (NASDAQ:HNST) had its target price decreased by Loop Capital from $5.00 to $3.00 in a report issued on Friday morning, Benzinga reports. Loop Capital currently has a hold rating on the stock.

A number of other equities analysts have also recently commented on the company. Alliance Global Partners began coverage on Honest in a report on Tuesday, February 6th. They issued a buy rating and a $5.75 target price on the stock. Lake Street Capital initiated coverage on Honest in a report on Thursday, April 4th. They issued a buy rating and a $6.00 target price on the stock. Telsey Advisory Group reissued a market perform rating and set a $4.00 price target on shares of Honest in a report on Wednesday, April 10th. Finally, Morgan Stanley raised their price target on Honest from $1.85 to $4.00 and gave the company an equal weight rating in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $4.55.

Honest Stock Down 1.0 %

Shares of Honest stock opened at $3.03 on Friday. Honest has a one year low of $1.06 and a one year high of $4.89. The stock’s fifty day moving average is $3.65 and its 200 day moving average is $2.71.

Honest (NASDAQ:HNST) last announced its earnings results on Wednesday, March 6th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. Honest had a negative return on equity of 30.36% and a negative net margin of 11.39%. The company had revenue of $90.26 million for the quarter, compared to analysts’ expectations of $83.54 million. On average, equities analysts expect that Honest will post -0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Honest

In other Honest news, EVP Stephen Winchell sold 19,665 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $3.24, for a total transaction of $63,714.60. Following the sale, the executive vice president now directly owns 428,957 shares of the company’s stock, valued at $1,389,820.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Stephen Winchell sold 19,665 shares of Honest stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $3.24, for a total value of $63,714.60. Following the sale, the executive vice president now directly owns 428,957 shares of the company’s stock, valued at $1,389,820.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carla Vernon sold 209,160 shares of Honest stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $4.16, for a total value of $870,105.60. Following the completion of the sale, the chief executive officer now directly owns 2,924,387 shares in the company, valued at $12,165,449.92. The disclosure for this sale can be found here. Insiders have sold a total of 803,229 shares of company stock valued at $2,684,496 over the last ninety days. 14.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Honest

Several large investors have recently made changes to their positions in HNST. XTX Topco Ltd bought a new stake in shares of Honest in the second quarter worth about $26,000. Tower Research Capital LLC TRC purchased a new position in Honest in the third quarter worth about $41,000. LPL Financial LLC purchased a new position in Honest in the second quarter worth about $60,000. Point72 Hong Kong Ltd purchased a new position in Honest in the first quarter worth about $61,000. Finally, Bank of Montreal Can grew its position in Honest by 37.4% in the second quarter. Bank of Montreal Can now owns 19,383 shares of the company’s stock worth $61,000 after acquiring an additional 5,275 shares in the last quarter. 45.54% of the stock is owned by institutional investors.

About Honest

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.