The Honest Company, Inc. (NASDAQ:HNST) Stock Has Consensus Target Price of $4.84 According to Analysts

Shares of The Honest Company, Inc. (NASDAQ:HNST) have received an average recommendation of “Hold” from the nine research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $4.84.

A number of analysts recently issued reports on the company. Northland Securities set a $5.50 price objective on Honest in a report on Thursday, August 6th. Weiss Ratings raised Honest from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. B. Riley Financial lifted their target price on Honest from $4.00 to $5.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Telsey Advisory Group upped their price target on Honest from $4.00 to $5.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. Finally, Morgan Stanley increased their price target on shares of Honest from $3.40 to $5.70 and gave the stock an “equal weight” rating in a report on Wednesday, August 12th.

Honest Price Performance

NASDAQ:HNST opened at $4.97 on Thursday. The company has a market cap of $547.10 million, a P/E ratio of -45.18 and a beta of 2.32. The stock’s fifty day moving average price is $5.28 and its two-hundred day moving average price is $4.17. Honest has a 1 year low of $2.07 and a 1 year high of $6.01.

Honest (NASDAQ:HNST) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $80.19 million during the quarter, compared to analyst estimates of $77.83 million. Honest had a positive return on equity of 4.31% and a negative net margin of 3.56%. On average, analysts expect that Honest will post 0.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Andrea Turner sold 34,396 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $5.30, for a total transaction of $182,298.80. Following the completion of the transaction, the director owned 282,304 shares of the company’s stock, valued at approximately $1,496,211.20. The trade was a 10.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jonathan Mayle sold 79,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $5.22, for a total transaction of $412,380.00. Following the sale, the senior vice president directly owned 370,155 shares in the company, valued at $1,932,209.10. This trade represents a 17.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 294,149 shares of company stock valued at $1,503,306 in the last three months. Insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Honest during the 2nd quarter valued at $25,662,000. Green Alpha Advisors LLC increased its holdings in shares of Honest by 30.1% in the third quarter. Green Alpha Advisors LLC now owns 387,992 shares of the company’s stock worth $1,990,000 after purchasing an additional 89,720 shares during the period. Bank of America Corp DE bought a new position in shares of Honest in the second quarter worth $715,000. Deutsche Bank AG purchased a new stake in shares of Honest in the second quarter worth $328,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Honest in the second quarter worth $279,000. 45.54% of the stock is owned by institutional investors.

About Honest

The Honest Company, Inc develops and sells consumer products focused on baby care, personal care, beauty, and household needs. Its product portfolio includes diapers, wipes, skin care products, bath and body items, personal care products, and household cleaning solutions.

Founded in 2011 by Jessica Alba and Brian Lee, the company was established with an emphasis on product transparency, responsible ingredient selection, and accessible wellness-oriented goods. Honest products are sold through the company’s direct-to-consumer platform and through retail partners, primarily serving customers in the United States.

The Honest Company is headquartered in Los Angeles, California, and trades on the Nasdaq under the symbol HNST.