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

Shares of The Honest Company, Inc. (NASDAQ:HNST) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $5.04.

Several analysts recently weighed in on the company. Northland Securities initiated coverage on Honest in a research report on Tuesday, August 6th. They set an “outperform” rating and a $6.00 price objective for the company. B. Riley assumed coverage on shares of Honest in a research note on Tuesday, September 10th. They issued a “buy” rating and a $6.50 price target on the stock. Finally, Northland Capmk upgraded shares of Honest to a “strong-buy” rating in a research report on Tuesday, August 6th.

Honest Trading Down 1.6 %

Shares of NASDAQ:HNST opened at $3.58 on Friday. The firm has a 50 day moving average of $3.89 and a 200-day moving average of $3.37. Honest has a 12 month low of $1.07 and a 12 month high of $4.89. The stock has a market capitalization of $353.12 million, a PE ratio of -15.57 and a beta of 1.87.

Honest (NASDAQ:HNST) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $93.05 million during the quarter, compared to the consensus estimate of $87.63 million. Honest had a negative net margin of 3.50% and a negative return on equity of 10.00%. During the same period in the previous year, the business earned ($0.14) earnings per share. On average, research analysts predict that Honest will post -0.1 EPS for the current fiscal year.

Insider Activity at Honest

In other Honest news, CEO Carla Vernon sold 52,751 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $225,774.28. Following the sale, the chief executive officer now directly owns 2,828,319 shares of the company’s stock, valued at $12,105,205.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total value of $8,050,000.00. Following the transaction, the insider now directly owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carla Vernon sold 52,751 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $225,774.28. Following the sale, the chief executive officer now directly owns 2,828,319 shares of the company’s stock, valued at $12,105,205.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,531,187 shares of company stock worth $9,018,480 in the last quarter. 8.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Honest

Institutional investors have recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in Honest in the first quarter valued at $27,000. Creative Planning acquired a new position in shares of Honest in the 3rd quarter valued at about $39,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Honest during the 3rd quarter valued at about $40,000. Lazard Asset Management LLC acquired a new stake in Honest during the first quarter worth approximately $52,000. Finally, Panagora Asset Management Inc. bought a new stake in Honest in the second quarter worth approximately $43,000. 45.54% of the stock is owned by institutional investors.

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.