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

Shares of The Honest Company, Inc. (NASDAQ:HNST) have been given a consensus rating of “Moderate Buy” by the seven analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $4.79.

A number of brokerages have recently weighed in on HNST. Northland Capmk raised Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Northland Securities assumed coverage on shares of Honest in a report on Tuesday, August 6th. They set an “outperform” rating and a $6.00 price objective on the stock. 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 report on Tuesday, June 25th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $4.00 price target on shares of Honest in a research note on Thursday, May 9th.

Honest Price Performance

Shares of HNST opened at $4.67 on Friday. The business has a 50-day moving average of $3.58 and a 200-day moving average of $3.37. The company has a market capitalization of $460.64 million, a price-to-earnings ratio of -20.30 and a beta of 1.86. Honest has a 1 year low of $1.06 and a 1 year high of $4.89.

Honest (NASDAQ:HNST) last announced its quarterly earnings data 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 17.44% and a negative net margin of 6.27%. The company had revenue of $93.05 million for the quarter, compared to the consensus estimate of $87.63 million. During the same period in the previous year, the business earned ($0.14) EPS. As a group, sell-side analysts anticipate that Honest will post -0.12 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Brendan Sheehey sold 8,176 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $34,993.28. Following the transaction, the general counsel now directly owns 517,861 shares in the company, valued at approximately $2,216,445.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director James D. White sold 70,000 shares of the company’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 directly owns 309,244 shares of the company’s stock, valued at $1,230,791.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Brendan Sheehey sold 8,176 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $34,993.28. Following the completion of the sale, the general counsel now directly owns 517,861 shares of the company’s stock, valued at approximately $2,216,445.08. The disclosure for this sale can be found here. Insiders sold a total of 231,187 shares of company stock valued at $968,480 over the last 90 days. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. EntryPoint Capital LLC bought a new position in shares of Honest in the 1st quarter worth about $27,000. Lazard Asset Management LLC purchased a new stake in Honest in the first quarter worth about $52,000. Panagora Asset Management Inc. bought a new position in shares of Honest during the second quarter valued at approximately $43,000. SG Americas Securities LLC purchased a new position in shares of Honest during the first quarter valued at approximately $93,000. Finally, Cannon Global Investment Management LLC bought a new stake in shares of Honest in the 1st quarter worth approximately $122,000. Hedge funds and other institutional investors 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.