Honest (NASDAQ:HNST) Stock Rating Lowered by Lake Street Capital

Honest (NASDAQ:HNST) was downgraded by stock analysts at Lake Street Capital from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Finviz reports. They currently have a $3.00 target price on the stock. Lake Street Capital’s price objective indicates a potential downside of 9.09% from the company’s previous close.

A number of other equities analysts have also commented on HNST. Telsey Advisory Group cut their price objective on shares of Honest from $6.00 to $3.00 and set a “market perform” rating for the company in a research report on Thursday. Morgan Stanley cut their price objective on shares of Honest from $5.50 to $4.25 and set an “equal weight” rating for the company in a research report on Friday, August 15th. Weiss Ratings lowered shares of Honest from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Finally, Zacks Research upgraded shares of Honest from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.96.

Honest Stock Down 0.9%

HNST opened at $3.30 on Thursday. The company has a market capitalization of $367.19 million, a price-to-earnings ratio of 66.01 and a beta of 2.28. The firm has a 50-day moving average price of $3.76 and a 200-day moving average price of $4.36. Honest has a twelve month low of $3.25 and a twelve month high of $8.97.

Honest (NASDAQ:HNST) last posted its earnings results on Wednesday, November 5th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. The firm had revenue of $92.57 million during the quarter, compared to the consensus estimate of $99.43 million. Honest had a net margin of 1.66% and a return on equity of 3.84%. Honest has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Honest will post -0.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Honest

In other Honest news, General Counsel Brendan Sheehey sold 12,059 shares of Honest stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $3.65, for a total transaction of $44,015.35. Following the transaction, the general counsel directly owned 568,588 shares of the company’s stock, valued at approximately $2,075,346.20. This trade represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Winchell sold 10,841 shares of Honest stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total transaction of $39,569.65. Following the transaction, the insider directly owned 410,257 shares in the company, valued at $1,497,438.05. This trade represents a 2.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 131,890 shares of company stock worth $481,399 over the last three months. 8.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its stake in shares of Honest by 18.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 21,366 shares of the company’s stock worth $81,000 after acquiring an additional 3,365 shares in the last quarter. Ethos Financial Group LLC raised its holdings in Honest by 45.1% during the 3rd quarter. Ethos Financial Group LLC now owns 17,733 shares of the company’s stock valued at $65,000 after buying an additional 5,514 shares during the last quarter. CWM LLC raised its holdings in Honest by 17.1% during the 3rd quarter. CWM LLC now owns 27,342 shares of the company’s stock valued at $101,000 after buying an additional 3,985 shares during the last quarter. Inspire Investing LLC raised its holdings in Honest by 61.6% during the 3rd quarter. Inspire Investing LLC now owns 123,120 shares of the company’s stock valued at $453,000 after buying an additional 46,914 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in Honest by 33.9% during the 2nd quarter. Osaic Holdings Inc. now owns 14,577 shares of the company’s stock valued at $74,000 after buying an additional 3,693 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.