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

The Honest Company, Inc. (NASDAQ:HNSTGet Rating) has been given a consensus rating of “Hold” by the seven ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $5.96.

Several brokerages recently issued reports on HNST. Telsey Advisory Group cut their price objective on Honest from $12.00 to $8.00 and set an “outperform” rating for the company in a research report on Monday, August 15th. JPMorgan Chase & Co. cut their price target on Honest from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Thursday, October 13th.

Honest Price Performance

Shares of Honest stock opened at $3.35 on Tuesday. Honest has a 1 year low of $2.54 and a 1 year high of $10.41. The company has a market capitalization of $309.59 million, a P/E ratio of -7.79 and a beta of 0.48. The business has a 50 day moving average price of $3.56 and a 200 day moving average price of $3.48.

Honest (NASDAQ:HNSTGet Rating) last issued its quarterly earnings data on Friday, August 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.03). Honest had a negative return on equity of 22.07% and a negative net margin of 12.51%. The company had revenue of $78.50 million for the quarter, compared to analyst estimates of $75.74 million. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts expect that Honest will post -0.37 EPS for the current fiscal year.

Insider Activity

In other news, insider Jessica Warren sold 7,403 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $3.74, for a total transaction of $27,687.22. Following the completion of the sale, the insider now directly owns 606,094 shares of the company’s stock, valued at approximately $2,266,791.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Janis Hoyt sold 9,948 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $3.48, for a total transaction of $34,619.04. Following the completion of the sale, the insider now directly owns 341,348 shares of the company’s stock, valued at approximately $1,187,891.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jessica Warren sold 7,403 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $3.74, for a total transaction of $27,687.22. Following the sale, the insider now directly owns 606,094 shares of the company’s stock, valued at $2,266,791.56. The disclosure for this sale can be found here. Insiders sold 56,314 shares of company stock valued at $204,227 in the last ninety days. Company insiders own 26.20% of the company’s stock.

Institutional Trading of Honest

A number of institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its position in Honest by 4.0% during the 2nd quarter. Rhumbline Advisers now owns 92,277 shares of the company’s stock worth $269,000 after purchasing an additional 3,590 shares during the period. Swiss National Bank boosted its position in Honest by 8.4% in the 1st quarter. Swiss National Bank now owns 64,600 shares of the company’s stock valued at $337,000 after buying an additional 5,000 shares during the last quarter. Bank of Montreal Can boosted its position in Honest by 37.4% in the 2nd quarter. Bank of Montreal Can now owns 19,383 shares of the company’s stock valued at $61,000 after buying an additional 5,275 shares during the last quarter. Federated Hermes Inc. boosted its position in Honest by 82.6% in the 1st quarter. Federated Hermes Inc. now owns 12,361 shares of the company’s stock valued at $64,000 after buying an additional 5,590 shares during the last quarter. Finally, Nisa Investment Advisors LLC purchased a new position in Honest in the 1st quarter valued at about $36,000. 43.79% of the stock is owned by hedge funds and other institutional investors.

Honest Company Profile

(Get Rating)

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.

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Analyst Recommendations for Honest (NASDAQ:HNST)

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