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

Shares of The Honest Company, Inc. (NASDAQ:HNST) have earned an average rating of “Hold” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $3.00.

HNST has been the topic of a number of analyst reports. Weiss Ratings cut shares of Honest from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Telsey Advisory Group lowered their price target on shares of Honest from $6.00 to $3.00 and set a “market perform” rating on the stock in a report on Thursday, November 6th. Morgan Stanley dropped their price target on shares of Honest from $4.25 to $3.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 19th. Zacks Research downgraded shares of Honest from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, B. Riley reissued a “buy” rating on shares of Honest in a research note on Thursday, November 6th.

Honest Price Performance

Shares of HNST stock opened at $2.79 on Friday. Honest has a 52-week low of $2.31 and a 52-week high of $7.13. The stock has a market cap of $311.89 million, a PE ratio of 46.50 and a beta of 2.30. The business has a 50-day simple moving average of $3.02 and a 200-day simple moving average of $3.88.

Honest (NASDAQ:HNST) last posted its earnings results on Wednesday, November 5th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. Honest had a return on equity of 3.86% and a net margin of 1.85%.The firm had revenue of $92.57 million for the quarter, compared to analyst estimates of $99.43 million. Sell-side analysts anticipate that Honest will post -0.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Honest news, insider Stephen Winchell sold 10,595 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $2.60, for a total value of $27,547.00. Following the sale, the insider directly owned 399,662 shares of the company’s stock, valued at approximately $1,039,121.20. This trade represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carla Vernon sold 97,505 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $2.60, for a total value of $253,513.00. Following the transaction, the chief executive officer directly owned 2,901,488 shares of the company’s stock, valued at approximately $7,543,868.80. The trade was a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 8.90% of the company’s stock.

Institutional Trading of Honest

A number of institutional investors have recently made changes to their positions in the company. CIBC Bancorp USA Inc. purchased a new stake in shares of Honest during the third quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd boosted its stake in Honest by 1,392.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,073 shares of the company’s stock worth $26,000 after purchasing an additional 6,599 shares during the last quarter. Equity Wealth Partners LLC purchased a new stake in shares of Honest during the third quarter worth $37,000. Verition Fund Management LLC grew its holdings in shares of Honest by 21.6% during the third quarter. Verition Fund Management LLC now owns 170,908 shares of the company’s stock worth $629,000 after buying an additional 30,314 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of Honest in the third quarter valued at about $74,000. 45.54% of the stock is owned by institutional investors and hedge funds.

Honest Company Profile

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.