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

The Honest Company, Inc. (NASDAQ:HNST) has been given a consensus rating of “Hold” by the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $4.84.

A number of research analysts have commented on HNST shares. Freedom Capital upgraded Honest from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Telsey Advisory Group increased their target price on Honest from $4.00 to $5.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded Honest from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday. Morgan Stanley boosted their price target on Honest from $3.40 to $5.70 and gave the stock an “equal weight” rating in a research report on Wednesday, August 12th. Finally, Northland Securities set a $5.50 price target on Honest in a report on Thursday, August 6th.

Insider Buying and Selling at Honest

In other news, Director Andrea Turner sold 34,396 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $5.30, for a total value of $182,298.80. Following the completion of the transaction, the director directly owned 282,304 shares in the company, valued at approximately $1,496,211.20. This represents a 10.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Carla Vernón sold 117,893 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $4.99, for a total transaction of $588,286.07. Following the completion of the transaction, the chief executive officer owned 3,828,558 shares of the company’s stock, valued at $19,104,504.42. This trade represents a 2.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 294,149 shares of company stock valued at $1,503,306. 9.40% of the stock is owned by company insiders.

Institutional Trading of Honest

Several large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Honest during the second quarter worth about $25,662,000. UBS Group AG boosted its holdings in Honest by 77.3% in the fourth quarter. UBS Group AG now owns 1,014,939 shares of the company’s stock valued at $2,619,000 after purchasing an additional 442,542 shares during the last quarter. Green Alpha Advisors LLC acquired a new stake in Honest during the 2nd quarter valued at approximately $1,092,000. Bank of America Corp DE acquired a new stake in Honest during the 2nd quarter valued at approximately $715,000. Finally, Deutsche Bank AG purchased a new stake in Honest during the 2nd quarter worth approximately $328,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Honest Trading Up 0.2%

Shares of HNST stock opened at $5.29 on Friday. The company’s fifty day simple moving average is $4.96 and its 200-day simple moving average is $3.91. Honest has a 52 week low of $2.07 and a 52 week high of $6.01. The company has a market cap of $582.32 million, a PE ratio of -48.09 and a beta of 2.24.

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

About Honest

The Honest Company, Inc (NASDAQ: HNST) is a consumer goods company that develops and sells personal care, beauty, baby, and household products. Its product portfolio includes diapers, wipes, skin care, bath and body products, personal care items, cosmetics, and household cleaning products, with an emphasis on ingredient transparency and product design.

Founded in 2011, the company initially built its business primarily through direct-to-consumer sales and subscription offerings before expanding its retail presence.