Brokerages Set The Honest Company, Inc. (NASDAQ:HNST) PT at $5.04

The Honest Company, Inc. (NASDAQ:HNST) has received an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $5.04.

A number of research analysts recently weighed in on HNST shares. B. Riley assumed coverage on Honest in a report on Tuesday, September 10th. They set a “buy” rating and a $6.50 target price on the stock. Northland Capmk raised shares of Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Northland Securities began coverage on shares of Honest in a research note on Tuesday, August 6th. They issued an “outperform” rating and a $6.00 price target on the stock. Finally, Loop Capital upgraded shares of Honest from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a research report on Tuesday, June 25th.

Honest Stock Performance

NASDAQ HNST opened at $3.64 on Wednesday. The firm has a market capitalization of $359.04 million, a P/E ratio of -15.83 and a beta of 1.90. The firm’s fifty day moving average price is $3.92 and its two-hundred day moving average price is $3.42. Honest has a 1 year low of $1.06 and a 1 year high of $4.89.

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 analysts’ consensus estimates of ($0.04). Honest had a negative net margin of 3.50% and a negative return on equity of 10.00%. The company had revenue of $93.05 million for the quarter, compared to analysts’ expectations of $87.63 million. During the same period in the prior year, the firm earned ($0.14) EPS. On average, research analysts anticipate that Honest will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Brendan Sheehey sold 8,176 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $34,993.28. Following the completion of the sale, the general counsel now owns 517,861 shares of the company’s stock, valued at $2,216,445.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the sale, the insider now owns 9,869,803 shares of the company’s stock, valued at approximately $34,544,310.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Brendan Sheehey sold 8,176 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $34,993.28. Following the sale, the general counsel now owns 517,861 shares in the company, valued at $2,216,445.08. The disclosure for this sale can be found here. Insiders have sold 2,531,187 shares of company stock valued at $9,018,480 over the last 90 days. 8.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Honest

Several institutional investors and hedge funds have recently added to or reduced their stakes in HNST. EntryPoint Capital LLC bought a new stake in shares of Honest in the 1st quarter valued at $27,000. Panagora Asset Management Inc. acquired a new stake in Honest during the 2nd quarter worth about $43,000. Lazard Asset Management LLC acquired a new position in shares of Honest in the 1st quarter valued at about $52,000. SG Americas Securities LLC bought a new stake in shares of Honest during the 1st quarter valued at about $93,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Honest during the second quarter worth approximately $94,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

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.