Analysts Set The Honest Company, Inc. (NASDAQ:HNST) Target Price at $4.84

Shares of The Honest Company, Inc. (NASDAQ:HNST) have been given an average recommendation of “Hold” by the nine analysts that are covering the stock, MarketBeat.com reports. Two equities research 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 target price among brokerages that have updated their coverage on the stock in the last year is $4.84.

Several analysts have recently weighed in on HNST shares. Freedom Capital raised shares of Honest from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. B. Riley Financial increased their price target on Honest from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings raised Honest from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded Honest from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Honest in a research report on Thursday, August 6th.

Honest Price Performance

Honest stock opened at $5.63 on Wednesday. The business has a 50 day simple moving average of $4.37 and a 200 day simple moving average of $3.54. The company has a market capitalization of $619.75 million, a PE ratio of -51.18 and a beta of 2.24. Honest has a one year low of $2.07 and a one year high of $5.96.

Honest (NASDAQ:HNST) last announced its earnings results on Wednesday, August 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $80.19 million during the quarter, compared to analysts’ expectations of $77.83 million. Honest had a negative net margin of 3.56% and a positive return on equity of 4.31%. Equities analysts anticipate 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 29,899 shares of Honest stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $5.21, for a total value of $155,773.79. Following the completion of the transaction, the director directly owned 252,405 shares of the company’s stock, valued at $1,315,030.05. The trade was a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dorria L. Ball sold 6,812 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $4.99, for a total transaction of $33,991.88. Following the transaction, the insider owned 418,584 shares in the company, valued at approximately $2,088,734.16. This trade represents a 1.60% decrease in their position. 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. Insiders sold a total of 294,149 shares of company stock valued at $1,503,306 in the last 90 days. 9.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Honest

A number of large investors have recently modified their holdings of HNST. Allworth Financial LP acquired a new stake in shares of Honest in the second quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd raised its position in Honest by 1,392.2% in 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. Amicus Financial Advisors LLC acquired a new position in Honest during the 4th quarter worth $29,000. Hibernia Wealth Partners LLC acquired a new position in Honest during the 4th quarter worth $32,000. Finally, Legal & General Group Plc bought a new position in Honest in the 2nd quarter valued at $36,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

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.