Brokerages Set The Honest Company, Inc. (NASDAQ:HNST) Target Price at $3.47

Shares of The Honest Company, Inc. (NASDAQ:HNST) have been assigned a consensus rating of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $3.4667.

HNST has been the subject of a number of analyst reports. Alliance Global Partners reissued a “buy” rating on shares of Honest in a report on Thursday, May 7th. Telsey Advisory Group reiterated a “market perform” rating and issued a $4.00 price objective on shares of Honest in a research report on Thursday, May 7th. Wall Street Zen raised shares of Honest from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley set a $3.40 price objective on Honest in a research note on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Honest in a research note on Tuesday, May 26th.

Honest Trading Up 0.3%

HNST opened at $3.66 on Friday. Honest has a 1 year low of $2.07 and a 1 year high of $4.79. The stock has a market cap of $402.89 million, a PE ratio of -21.53 and a beta of 2.12. The stock’s 50 day simple moving average is $3.69 and its 200-day simple moving average is $3.14.

Honest (NASDAQ:HNST) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Honest had a negative net margin of 5.39% and a positive return on equity of 3.52%. The company had revenue of $78.10 million during the quarter, compared to the consensus estimate of $76.25 million. Equities analysts forecast that Honest will post 0.1 earnings per share for the current fiscal year.

Insider Activity at Honest

In other news, General Counsel Brendan Sheehey sold 9,784 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $3.14, for a total value of $30,721.76. Following the sale, the general counsel directly owned 715,888 shares in the company, valued at $2,247,888.32. The trade was a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Carla Vernon sold 119,389 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $3.14, for a total value of $374,881.46. Following the completion of the sale, the chief executive officer owned 3,946,451 shares in the company, valued at $12,391,856.14. The trade was a 2.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 175,058 shares of company stock valued at $550,591. Corporate insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Honest

A number of large investors have recently modified their holdings of HNST. Mak Capital One LLC acquired a new position in Honest during the fourth quarter valued at approximately $9,104,000. Geode Capital Management LLC boosted its holdings in shares of Honest by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,323,572 shares of the company’s stock worth $5,996,000 after acquiring an additional 28,579 shares during the period. Dimensional Fund Advisors LP boosted its stake in Honest by 8.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,259,540 shares of the company’s stock valued at $8,315,000 after purchasing an additional 171,425 shares during the period. Balyasny Asset Management L.P. boosted its position in shares of Honest by 796.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,006,646 shares of the company’s stock valued at $5,177,000 after acquiring an additional 1,782,742 shares during the period. Finally, Millennium Management LLC grew its position in shares of Honest by 16.4% during the 1st quarter. Millennium Management LLC now owns 1,936,846 shares of the company’s stock worth $9,103,000 after purchasing an additional 272,765 shares in the last quarter. 45.54% of the stock is currently owned by institutional investors and hedge funds.

About Honest

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.