Brokerages Set The Honest Company, Inc. (NASDAQ:HNST) PT at $5.04

The Honest Company, Inc. (NASDAQ:HNST) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $5.04.

HNST has been the topic of several research analyst reports. Northland Capmk upgraded shares of Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Northland Securities assumed coverage on Honest in a research report on Tuesday, August 6th. They set an “outperform” rating and a $6.00 target price on the stock. Loop Capital upgraded Honest from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research note on Tuesday, June 25th. Finally, B. Riley began coverage on Honest in a research report on Tuesday, September 10th. They issued a “buy” rating and a $6.50 price objective for the company.

Honest Stock Down 0.6 %

Shares of NASDAQ:HNST opened at $3.55 on Wednesday. The company has a market cap of $350.16 million, a price-to-earnings ratio of -15.43 and a beta of 1.90. The business has a 50 day moving average price of $3.91 and a 200 day moving average price of $3.41. Honest has a twelve month low of $1.06 and a twelve month high of $4.89.

Honest (NASDAQ:HNST) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). Honest had a negative return on equity of 10.00% and a negative net margin of 3.50%. The company had revenue of $93.05 million during the quarter, compared to analysts’ expectations of $87.63 million. During the same period in the prior year, the business earned ($0.14) earnings per share. Analysts anticipate that Honest will post -0.1 EPS for the current year.

Insider Activity

In other news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following 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 document filed with the SEC, which is accessible through the SEC website. In related news, EVP Stephen Winchell sold 6,938 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $29,694.64. Following the sale, the executive vice president now owns 414,736 shares of the company’s stock, valued at approximately $1,775,070.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were 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 approximately $34,544,310.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,531,187 shares of company stock worth $9,018,480. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Honest

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Algert Global LLC grew its holdings in shares of Honest by 24.4% during the second quarter. Algert Global LLC now owns 63,472 shares of the company’s stock worth $185,000 after purchasing an additional 12,437 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Honest during the second quarter worth $94,000. Deerfield Management Company L.P. Series C grew its holdings in shares of Honest by 37.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 150,190 shares of the company’s stock worth $439,000 after purchasing an additional 41,222 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Honest during the second quarter worth $218,000. Finally, XTX Topco Ltd grew its holdings in shares of Honest by 6.4% during the second quarter. XTX Topco Ltd now owns 137,797 shares of the company’s stock worth $402,000 after purchasing an additional 8,282 shares during the last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

About Honest

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.