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

The Honest Company, Inc. (NASDAQ:HNST) has earned a consensus rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $7.70.

Separately, Telsey Advisory Group reiterated a “market perform” rating and issued a $7.00 target price on shares of Honest in a report on Thursday, May 8th.

Insider Activity at Honest

In other news, General Counsel Brendan Sheehey sold 12,017 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $5.32, for a total transaction of $63,930.44. Following the sale, the general counsel directly owned 580,647 shares of the company’s stock, valued at approximately $3,089,042.04. This represents a 2.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David Loretta sold 34,389 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $5.32, for a total value of $182,949.48. Following the completion of the sale, the chief financial officer directly owned 883,153 shares in the company, valued at $4,698,373.96. This trade represents a 3.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,726 shares of company stock worth $881,662. Insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Honest

Large investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC boosted its holdings in shares of Honest by 6,101.8% in the 1st quarter. Summit Securities Group LLC now owns 6,822 shares of the company’s stock worth $32,000 after purchasing an additional 6,712 shares in the last quarter. DRW Securities LLC purchased a new stake in Honest in the 1st quarter worth approximately $58,000. Aigen Investment Management LP bought a new position in shares of Honest in the 1st quarter worth approximately $64,000. Bailard Inc. bought a new position in shares of Honest in the 1st quarter worth approximately $78,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in Honest by 57.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,757 shares of the company’s stock valued at $83,000 after buying an additional 6,513 shares in the last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

Honest Stock Up 0.7%

Honest stock opened at $4.63 on Tuesday. The business has a 50-day simple moving average of $4.89 and a 200 day simple moving average of $5.20. Honest has a 52 week low of $2.99 and a 52 week high of $8.97. The stock has a market cap of $510.41 million, a price-to-earnings ratio of -231.50 and a beta of 2.35.

Honest (NASDAQ:HNST) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Honest had a negative return on equity of 0.95% and a negative net margin of 0.38%. The firm had revenue of $97.25 million during the quarter, compared to analyst estimates of $92.46 million. On average, research analysts anticipate that Honest will post -0.07 earnings per share for the current 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.