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

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

Several research firms have commented on HNST. Loop Capital raised shares of Honest from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a research note on Tuesday, June 25th. Northland Securities began coverage on shares of Honest in a research note on Tuesday, August 6th. They set an “outperform” rating and a $6.00 price objective for the company. Northland Capmk raised shares of Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, B. Riley began coverage on shares of Honest in a research note on Tuesday, September 10th. They set a “buy” rating and a $6.50 price objective for the company.

Honest Stock Performance

HNST stock opened at $3.60 on Wednesday. The firm has a fifty day moving average price of $3.93 and a 200 day moving average price of $3.44. Honest has a fifty-two week low of $1.06 and a fifty-two week high of $4.89. The firm has a market cap of $355.10 million, a PE ratio of -15.65 and a beta of 1.90.

Honest (NASDAQ:HNST) last posted its earnings results on Thursday, August 8th. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The firm had revenue of $93.05 million during the quarter, compared to analyst estimates 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 last year, the firm posted ($0.14) earnings per share. On average, equities analysts predict that Honest will post -0.1 EPS for the current year.

Insider Transactions at Honest

In related news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest stock in a transaction dated 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 completion of the sale, the insider now directly owns 9,869,803 shares in the company, valued at $34,544,310.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest stock in a transaction dated 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 completion of the sale, the insider now directly owns 9,869,803 shares in the company, valued at $34,544,310.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen Winchell sold 6,938 shares of Honest stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $29,694.64. Following the completion of the sale, the executive vice president now owns 414,736 shares of the company’s stock, valued at $1,775,070.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,531,187 shares of company stock worth $9,018,480. 8.60% of the stock is currently owned by insiders.

Institutional Trading of Honest

Institutional investors and hedge funds have recently made changes to their positions in the company. EntryPoint Capital LLC bought a new position in Honest in the first quarter worth about $27,000. Lazard Asset Management LLC bought a new position in Honest in the first quarter worth about $52,000. Panagora Asset Management Inc. bought a new position in Honest in the second quarter worth about $43,000. SG Americas Securities LLC bought a new position in Honest in the first quarter worth about $93,000. Finally, Cannon Global Investment Management LLC bought a new position in Honest in the first quarter worth about $122,000. 45.54% of the stock is currently 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.