The Honest Company, Inc. (NASDAQ:HNST) Receives $4.84 Consensus Target Price from Analysts

The Honest Company, Inc. (NASDAQ:HNST) has been given an average rating of “Hold” by the nine analysts that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $4.84.

A number of research analysts recently issued reports on the stock. Northland Securities set a $5.50 price target on shares of Honest in a research note on Thursday, August 6th. Wall Street Zen raised shares of Honest from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Morgan Stanley raised their price objective on shares of Honest from $3.40 to $5.70 and gave the company an “equal weight” rating in a report on Wednesday, August 12th. Alliance Global Partners reaffirmed a “buy” rating on shares of Honest in a research report on Thursday, August 6th. Finally, B. Riley Financial boosted their target price on shares of Honest from $4.00 to $5.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th.

Honest Price Performance

HNST stock opened at $5.41 on Friday. The firm has a market capitalization of $595.53 million, a P/E ratio of -49.18 and a beta of 2.24. The business’s 50-day moving average is $4.88 and its two-hundred day moving average is $3.87. Honest has a 1 year low of $2.07 and a 1 year high of $6.01.

Honest (NASDAQ:HNST) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. Honest had a positive return on equity of 4.31% and a negative net margin of 3.56%.The business had revenue of $80.19 million during the quarter, compared to the consensus estimate of $77.83 million. On average, analysts expect that Honest will post 0.05 EPS for the current year.

Insider Activity at Honest

In other news, SVP Jonathan Mayle sold 6,161 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $4.99, for a total value of $30,743.39. Following the transaction, the senior vice president owned 363,994 shares in the company, valued at approximately $1,816,330.06. This represents a 1.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Carla Vernón sold 117,893 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $4.99, for a total value of $588,286.07. Following the sale, the chief executive officer directly owned 3,828,558 shares in the company, valued at $19,104,504.42. This trade represents a 2.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 294,149 shares of company stock worth $1,503,306 over the last three months. Company insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Honest

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Honest in the 2nd quarter valued at approximately $25,662,000. UBS Group AG increased its position in Honest by 77.3% during the fourth quarter. UBS Group AG now owns 1,014,939 shares of the company’s stock worth $2,619,000 after buying an additional 442,542 shares in the last quarter. Green Alpha Advisors LLC acquired a new position in shares of Honest in the second quarter worth $1,092,000. Bank of America Corp DE purchased a new stake in shares of Honest in the second quarter valued at $715,000. Finally, Deutsche Bank AG purchased a new stake in shares of Honest in the second quarter valued at $328,000. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

About Honest

The Honest Company, Inc (NASDAQ: HNST) is a consumer goods company that develops and sells personal care, beauty, baby, and household products. Its product portfolio includes diapers, wipes, skin care, bath and body products, personal care items, cosmetics, and household cleaning products, with an emphasis on ingredient transparency and product design.

Founded in 2011, the company initially built its business primarily through direct-to-consumer sales and subscription offerings before expanding its retail presence.