The Honest Company, Inc. (NASDAQ:HNST) Given Average Rating of “Hold” by Brokerages

Shares of The Honest Company, Inc. (NASDAQ:HNST) have earned a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $3.00.

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Honest from $4.25 to $3.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 19th. Telsey Advisory Group reduced their price target on Honest from $6.00 to $3.00 and set a “market perform” rating for the company in a report on Thursday, November 6th. B. Riley reiterated a “buy” rating on shares of Honest in a research report on Thursday, November 6th. Weiss Ratings lowered Honest from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Finally, Zacks Research downgraded Honest from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th.

Insider Buying and Selling at Honest

In other Honest news, insider Stephen Winchell sold 10,595 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $2.60, for a total transaction of $27,547.00. Following the completion of the transaction, the insider directly owned 399,662 shares in the company, valued at approximately $1,039,121.20. This represents a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Carla Vernon sold 97,505 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $2.60, for a total transaction of $253,513.00. Following the transaction, the chief executive officer directly owned 2,901,488 shares in the company, valued at approximately $7,543,868.80. The trade was a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Honest

Hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its stake in Honest by 1,392.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 7,073 shares of the company’s stock valued at $26,000 after purchasing an additional 6,599 shares during the last quarter. Equity Wealth Partners LLC acquired a new position in shares of Honest in the 3rd quarter valued at $37,000. CIBC Bancorp USA Inc. purchased a new position in shares of Honest in the 3rd quarter valued at $39,000. Strategic Blueprint LLC acquired a new stake in Honest during the 2nd quarter worth $52,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Honest by 85,544.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 15,416 shares of the company’s stock worth $57,000 after acquiring an additional 15,398 shares in the last quarter. 45.54% of the stock is owned by hedge funds and other institutional investors.

Honest Price Performance

Shares of NASDAQ HNST opened at $2.58 on Tuesday. The stock has a market capitalization of $288.42 million, a price-to-earnings ratio of 43.00 and a beta of 2.30. Honest has a 12 month low of $2.31 and a 12 month high of $6.80. The firm’s 50 day simple moving average is $2.70 and its 200-day simple moving average is $3.61.

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

Honest Company Profile

The Honest Company, Inc (NASDAQ: HNST) is an American consumer goods firm specializing in eco-friendly and responsibly formulated products for babies, personal care, beauty and home cleaning. The company emphasizes transparency in ingredient sourcing and product safety, positioning itself in the premium segment of mass-market retail and direct-to-consumer channels.

Honest was founded in 2011 by actress Jessica Alba and environmental health advocate Christopher Gavigan with a mission to offer parents household and baby care items free from harsh chemicals and synthetic fragrances.