The Honest Company, Inc. (NASDAQ:HNST) Receives $5.04 Average PT from Analysts

Shares of The Honest Company, Inc. (NASDAQ:HNST) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $5.04.

Several equities research analysts recently issued reports on HNST shares. Northland Securities began coverage on shares of Honest in a research report on Tuesday, August 6th. They set an “outperform” rating and a $6.00 price objective for the company. B. Riley assumed coverage on Honest in a research report on Tuesday, September 10th. They issued a “buy” rating and a $6.50 target price for the company. Finally, Northland Capmk upgraded Honest to a “strong-buy” rating in a research note on Tuesday, August 6th.

Honest Price Performance

HNST stock opened at $3.64 on Friday. Honest has a 1 year low of $1.07 and a 1 year high of $4.89. The firm has a market capitalization of $359.04 million, a PE ratio of -15.83 and a beta of 1.87. The business has a 50 day simple moving average of $3.92 and a 200-day simple moving average of $3.37.

Honest (NASDAQ:HNST) last issued its earnings results on Thursday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). Honest had a negative return on equity of 10.00% and a negative net margin of 3.50%. The company had revenue of $93.05 million during the quarter, compared to analysts’ expectations of $87.63 million. During the same period in the prior year, the business earned ($0.14) EPS. On average, equities research analysts expect that Honest will post -0.1 EPS for the current year.

Insider Transactions at Honest

In other Honest news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total value of $8,050,000.00. Following the transaction, the insider now directly owns 9,869,803 shares in the company, valued at approximately $34,544,310.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Stephen Winchell sold 6,938 shares of Honest stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $29,694.64. Following the sale, the executive vice president now directly owns 414,736 shares in the company, valued at $1,775,070.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,531,187 shares of company stock worth $9,018,480. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Honest

Several institutional investors have recently modified their holdings of HNST. EntryPoint Capital LLC purchased a new stake in shares of Honest in the 1st quarter worth about $27,000. Creative Planning acquired a new position in Honest in the 3rd quarter valued at $39,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Honest in the 3rd quarter worth about $40,000. Panagora Asset Management Inc. purchased a new stake in Honest in the second quarter valued at approximately $43,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Honest during the 1st quarter valued at $52,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.