The Honest Company, Inc. (NASDAQ:HNST) Receives $3.47 Consensus Target Price from Analysts

The Honest Company, Inc. (NASDAQ:HNST) has been assigned a consensus recommendation of “Hold” from the eight brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $3.4667.

Several research analysts have issued reports on HNST shares. Morgan Stanley set a $3.40 price objective on Honest in a report on Thursday, May 7th. Zacks Research raised Honest from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $4.00 price objective on shares of Honest in a report on Thursday, May 7th. Wall Street Zen raised Honest from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Honest in a report on Tuesday, May 26th.

Insider Buying and Selling at Honest

In other Honest news, CFO Curtiss James Bruce III sold 12,669 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $3.14, for a total transaction of $39,780.66. Following the completion of the sale, the chief financial officer owned 526,157 shares in the company, valued at approximately $1,652,132.98. The trade was a 2.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen Winchell sold 12,886 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $3.14, for a total transaction of $40,462.04. Following the sale, the insider owned 483,293 shares of the company’s stock, valued at $1,517,540.02. The trade was a 2.60% 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. Over the last 90 days, insiders have sold 175,058 shares of company stock worth $550,591. 9.40% of the stock is currently owned by insiders.

Institutional Trading of Honest

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE raised its position in shares of Honest by 28.4% during the 1st quarter. Bank of America Corp DE now owns 223,099 shares of the company’s stock valued at $656,000 after acquiring an additional 49,342 shares during the last quarter. Amicus Financial Advisors LLC bought a new stake in shares of Honest during the 4th quarter valued at $29,000. Alpine Global Management LLC bought a new stake in shares of Honest during the 4th quarter valued at $86,000. Virtu Financial LLC bought a new stake in shares of Honest during the 4th quarter valued at $448,000. Finally, Invesco Ltd. raised its position in shares of Honest by 45.9% during the 4th quarter. Invesco Ltd. now owns 186,991 shares of the company’s stock valued at $482,000 after acquiring an additional 58,784 shares during the last quarter. Institutional investors own 45.54% of the company’s stock.

Honest Stock Performance

NASDAQ:HNST opened at $3.77 on Friday. The stock’s fifty day moving average price is $3.38 and its two-hundred day moving average price is $2.89. Honest has a 52-week low of $2.07 and a 52-week high of $5.28. The company has a market cap of $415.00 million, a price-to-earnings ratio of -22.18 and a beta of 2.13.

Honest (NASDAQ:HNST) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Honest had a positive return on equity of 3.52% and a negative net margin of 5.39%.The firm had revenue of $78.10 million for the quarter, compared to the consensus estimate of $76.25 million. On average, equities analysts predict that Honest will post 0.1 EPS for the current fiscal year.

Honest announced that its Board of Directors has approved a stock repurchase plan on Friday, February 20th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the company to reacquire up to 9.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Honest Company Profile

The Honest Company, Inc (NASDAQ: HNST) is an American consumer goods firm specializing in eco-friendly and responsibly formulated products for babies, personal care, beauty and home cleaning. The company emphasizes transparency in ingredient sourcing and product safety, positioning itself in the premium segment of mass-market retail and direct-to-consumer channels.

Honest was founded in 2011 by actress Jessica Alba and environmental health advocate Christopher Gavigan with a mission to offer parents household and baby care items free from harsh chemicals and synthetic fragrances.