The Honest Company, Inc. (NASDAQ:HNST) Receives $5.04 Consensus Price Target from Analysts

The Honest Company, Inc. (NASDAQ:HNST) has been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the company, Marketbeat reports. Two research 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 target price among analysts that have covered the stock in the last year is $5.04.

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

Honest Price Performance

HNST stock opened at $3.64 on Wednesday. Honest has a 52-week low of $1.06 and a 52-week high of $4.89. The company has a 50-day moving average of $3.92 and a two-hundred day moving average of $3.44. The stock has a market capitalization of $359.04 million, a price-to-earnings ratio of -15.83 and a beta of 1.90.

Honest (NASDAQ:HNST) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $87.63 million. During the same period in the prior year, the company earned ($0.14) earnings per share. Equities analysts expect that Honest will post -0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Honest news, Director James D. White sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $3.98, for a total transaction of $278,600.00. Following the completion of the transaction, the director now owns 309,244 shares in the company, valued at $1,230,791.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Honest news, Director James D. White sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $3.98, for a total transaction of $278,600.00. Following the completion of the transaction, the director now owns 309,244 shares in the company, valued at $1,230,791.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David Loretta sold 75,656 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $323,807.68. Following the transaction, the chief financial officer now owns 987,757 shares of the company’s stock, valued at approximately $4,227,599.96. The disclosure for this sale can be found here. Insiders sold a total of 2,531,187 shares of company stock worth $9,018,480 over the last quarter. Company insiders own 8.60% of the company’s stock.

Institutional Trading of Honest

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Honest by 10.4% during the first quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock worth $11,549,000 after buying an additional 268,600 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Honest by 117.3% during the second 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 holdings 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 worth $2,755,000 after buying an additional 382,418 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Honest during the first quarter worth approximately $3,777,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Honest by 706.1% during the second quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock worth $2,088,000 after buying an additional 627,464 shares in the last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.