Brokerages Set The Honest Company, Inc. (NASDAQ:HNST) Target Price at $3.00

The Honest Company, Inc. (NASDAQ:HNST) has been given a consensus rating of “Hold” by the six research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $3.00.

HNST has been the topic of several recent analyst reports. Lake Street Capital downgraded Honest from a “buy” rating to a “hold” rating and set a $3.00 price target on the stock. in a research report on Thursday, November 6th. Telsey Advisory Group dropped their target price on shares of Honest from $6.00 to $3.00 and set a “market perform” rating on the stock in a research report on Thursday, November 6th. Zacks Research downgraded shares of Honest from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. B. Riley restated a “buy” rating on shares of Honest in a research report on Thursday, November 6th. Finally, Weiss Ratings lowered shares of Honest from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th.

Honest Price Performance

Shares of HNST opened at $2.59 on Tuesday. The company has a market capitalization of $289.54 million, a PE ratio of 43.17 and a beta of 2.30. Honest has a one year low of $2.31 and a one year high of $6.80. The company’s fifty day moving average price is $2.68 and its 200 day moving average price is $3.58.

Honest (NASDAQ:HNST) last issued its quarterly 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. Honest had a return on equity of 3.86% and a net margin of 1.85%.The company had revenue of $92.57 million for the quarter, compared to the consensus estimate of $99.43 million. Analysts anticipate that Honest will post -0.07 earnings per share for the current year.

Insider Activity

In other Honest news, CEO Carla Vernon sold 97,505 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $2.60, for a total value of $253,513.00. Following the completion of the transaction, the chief executive officer owned 2,901,488 shares of the company’s stock, valued at $7,543,868.80. This represents a 3.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stephen Winchell sold 10,595 shares of Honest stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $2.60, for a total value of $27,547.00. Following the sale, the insider directly owned 399,662 shares in the company, valued at $1,039,121.20. The trade was a 2.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 8.90% of the company’s stock.

Hedge Funds Weigh In On Honest

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its position 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 acquiring an additional 6,599 shares during the period. Wealthcare Advisory Partners LLC acquired a new stake in shares of Honest in the 4th quarter valued at $32,000. Equity Wealth Partners LLC bought a new stake in shares of Honest in the 3rd quarter worth about $37,000. CIBC Bancorp USA Inc. bought a new stake in shares of Honest in the 3rd quarter worth about $39,000. Finally, Strategic Blueprint LLC acquired a new stake in shares of Honest during the 2nd quarter worth about $52,000. Institutional investors own 45.54% of the company’s stock.

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.