The Honest Company, Inc. (NASDAQ:HNST) Receives $4.55 Consensus Target Price from Analysts

The Honest Company, Inc. (NASDAQ:HNST) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are presently covering the company, MarketBeat reports. Two equities 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 target price among brokers that have issued ratings on the stock in the last year is $4.79.

A number of equities analysts recently commented on HNST shares. Loop Capital upgraded Honest from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research note on Tuesday, June 25th. Telsey Advisory Group reiterated a “market perform” rating and issued a $4.00 price target on shares of Honest in a report on Thursday, May 9th. Northland Securities began coverage on Honest in a research note on Tuesday, August 6th. They set an “outperform” rating and a $6.00 price objective on the stock. Finally, Northland Capmk upgraded shares of Honest to a “strong-buy” rating in a research note on Tuesday, August 6th.

Insider Buying and Selling

In other news, CEO Carla Vernon sold 43,317 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $2.77, for a total transaction of $119,988.09. Following the completion of the transaction, the chief executive officer now owns 2,881,070 shares of the company’s stock, valued at $7,980,563.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Katherine Barton sold 67,930 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $2.77, for a total value of $188,166.10. Following the completion of the transaction, the insider now directly owns 933,005 shares of the company’s stock, valued at approximately $2,584,423.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Carla Vernon sold 43,317 shares of Honest stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $2.77, for a total value of $119,988.09. Following the sale, the chief executive officer now directly owns 2,881,070 shares in the company, valued at approximately $7,980,563.90. The disclosure for this sale can be found here. Insiders sold a total of 137,160 shares of company stock worth $379,933 in the last three months. 8.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC raised its position in shares of Honest by 117.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock worth $4,579,000 after buying an additional 846,300 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Honest by 68.1% during the second quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock valued at $2,755,000 after acquiring an additional 382,418 shares during the period. American Century Companies Inc. raised its holdings in Honest by 41.5% during the second quarter. American Century Companies Inc. now owns 111,141 shares of the company’s stock worth $325,000 after purchasing an additional 32,586 shares in the last quarter. Acadian Asset Management LLC lifted its position in Honest by 706.1% in the second quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock worth $2,088,000 after purchasing an additional 627,464 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Honest by 2,486.2% during the 2nd quarter. Rhumbline Advisers now owns 104,481 shares of the company’s stock valued at $305,000 after purchasing an additional 100,441 shares during the period. Institutional investors own 45.54% of the company’s stock.

Honest Trading Up 13.6 %

Honest stock opened at $3.68 on Tuesday. The stock has a 50 day moving average of $3.08 and a 200-day moving average of $3.24. The stock has a market cap of $362.99 million, a P/E ratio of -16.00 and a beta of 1.86. Honest has a 52 week low of $1.06 and a 52 week high of $4.89.

Honest (NASDAQ:HNST) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. The firm had revenue of $86.22 million for the quarter, compared to the consensus estimate of $83.79 million. Honest had a negative net margin of 6.27% and a negative return on equity of 17.44%. As a group, equities analysts predict that Honest will post -0.12 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.