Brokerages Set The Honest Company, Inc. (NASDAQ:HNST) Price Target at $6.93

Shares of The Honest Company, Inc. (NASDAQ:HNST) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $6.93.

HNST has been the topic of several recent research reports. B. Riley upped their price target on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group restated a “market perform” rating and set a $7.00 price target on shares of Honest in a report on Thursday. Northland Securities upped their price objective on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Loop Capital cut Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research report on Tuesday, December 17th. Finally, Alliance Global Partners upped their price objective on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

Insider Activity at Honest

In related news, Director Jessica Warren sold 465,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $7.55, for a total value of $3,510,750.00. Following the completion of the sale, the director now directly owns 1,170,058 shares of the company’s stock, valued at $8,833,937.90. This represents a 28.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.60% of the company’s stock.

Institutional Trading of Honest

Large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Honest in the 4th quarter valued at about $26,000. Zacks Investment Management acquired a new stake in shares of Honest in the 3rd quarter valued at about $37,000. Creative Planning acquired a new stake in shares of Honest in the 3rd quarter valued at about $39,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Honest in the 3rd quarter valued at about $40,000. Finally, New York State Teachers Retirement System acquired a new stake in Honest during the 4th quarter worth approximately $52,000. 45.54% of the stock is owned by institutional investors and hedge funds.

Honest Price Performance

Shares of NASDAQ HNST opened at $5.40 on Friday. The stock’s 50-day moving average is $6.27 and its two-hundred day moving average is $5.45. Honest has a 1-year low of $2.40 and a 1-year high of $8.97. The company has a market cap of $545.19 million, a price-to-earnings ratio of -135.00 and a beta of 2.43.

Honest (NASDAQ:HNST) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. The company had revenue of $99.84 million for the quarter, compared to the consensus estimate of $96.46 million. Equities research analysts anticipate that Honest will post -0.07 earnings per share for the current fiscal year.

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.