The Honest Company, Inc. (NASDAQ:HNST) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of The Honest Company, Inc. (NASDAQ:HNST) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $5.04.

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

Honest Stock Performance

Shares of NASDAQ:HNST opened at $3.79 on Friday. The firm has a 50 day simple moving average of $3.93 and a 200 day simple moving average of $3.38. Honest has a 52 week low of $1.07 and a 52 week high of $4.89. The company has a market cap of $373.84 million, a PE ratio of -16.48 and a beta of 1.87.

Honest (NASDAQ:HNST) last released 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 return on equity of 10.00% and a negative net margin of 3.50%. The company had revenue of $93.05 million during the quarter, compared to analyst estimates of $87.63 million. During the same quarter in the prior year, the company earned ($0.14) earnings per share. On average, equities analysts predict that Honest will post -0.1 earnings per share for the current year.

Insider Activity at Honest

In other Honest news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the transaction, the insider now directly owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total value of $8,050,000.00. Following the transaction, the insider now owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brendan Sheehey sold 8,176 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $34,993.28. Following the sale, the general counsel now directly owns 517,861 shares of the company’s stock, valued at approximately $2,216,445.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,531,187 shares of company stock valued at $9,018,480. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Honest

Hedge funds and other institutional investors have recently made changes to their positions in the business. EntryPoint Capital LLC bought a new stake in Honest during the 1st quarter valued at approximately $27,000. Creative Planning bought a new stake in shares of Honest in the third quarter valued at approximately $39,000. Panagora Asset Management Inc. acquired a new stake in shares of Honest in the second quarter worth $43,000. Lazard Asset Management LLC acquired a new stake in shares of Honest in the first quarter worth $52,000. Finally, CWM LLC increased its position in Honest by 279,400.0% during the third quarter. CWM LLC now owns 22,360 shares of the company’s stock worth $80,000 after acquiring an additional 22,352 shares during the period. 45.54% of the stock is owned by institutional investors and hedge funds.

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.