The Honest Company, Inc. (NASDAQ:HNST) Stock Has Average Price Target of $4.84

The Honest Company, Inc. (NASDAQ:HNST) has been assigned an average recommendation of “Hold” from the nine research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $4.84.

A number of analysts have recently issued reports on HNST shares. Wall Street Zen raised shares of Honest from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Alliance Global Partners restated a “buy” rating on shares of Honest in a report on Thursday, August 6th. Morgan Stanley raised their price target on shares of Honest from $3.40 to $5.70 and gave the stock an “equal weight” rating in a research note on Wednesday, August 12th. Telsey Advisory Group lifted their price objective on shares of Honest from $4.00 to $5.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Finally, B. Riley Financial boosted their price objective on shares of Honest from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Thursday, August 6th.

Honest Stock Performance

Shares of HNST stock opened at $5.00 on Thursday. The stock has a 50 day moving average price of $5.29 and a 200 day moving average price of $4.15. Honest has a 52-week low of $2.07 and a 52-week high of $6.01. The firm has a market capitalization of $550.40 million, a P/E ratio of -45.45 and a beta of 2.32.

Honest (NASDAQ:HNST) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. Honest had a positive return on equity of 4.31% and a negative net margin of 3.56%. The company had revenue of $80.19 million for the quarter, compared to the consensus estimate of $77.83 million. As a group, sell-side analysts forecast that Honest will post 0.05 EPS for the current year.

Insider Activity

In related news, SVP Jonathan Mayle sold 6,161 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $4.99, for a total value of $30,743.39. Following the transaction, the senior vice president owned 363,994 shares of the company’s stock, valued at $1,816,330.06. This represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Turner sold 29,899 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $5.21, for a total value of $155,773.79. Following the transaction, the director owned 252,405 shares in the company, valued at $1,315,030.05. The trade was a 10.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 294,149 shares of company stock valued at $1,503,306. Insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Honest

A number of institutional investors and hedge funds have recently bought and sold shares of HNST. Green Alpha Advisors LLC raised its holdings in shares of Honest by 30.1% in the third quarter. Green Alpha Advisors LLC now owns 387,992 shares of the company’s stock valued at $1,990,000 after acquiring an additional 89,720 shares in the last quarter. Allworth Financial LP lifted its stake in Honest by 45.8% in the second quarter. Allworth Financial LP now owns 7,038 shares of the company’s stock worth $26,000 after acquiring an additional 2,211 shares during the period. Corient Private Wealth LP purchased a new stake in Honest in the second quarter worth about $87,000. Amundi purchased a new stake in Honest in the second quarter worth about $44,000. Finally, Bank of America Corp DE bought a new position in Honest during the 2nd quarter worth about $715,000. 45.54% of the stock is owned by institutional investors.

Honest Company Profile

The Honest Company, Inc develops and sells consumer products focused on baby care, personal care, beauty, and household needs. Its product portfolio includes diapers, wipes, skin care products, bath and body items, personal care products, and household cleaning solutions.

Founded in 2011 by Jessica Alba and Brian Lee, the company was established with an emphasis on product transparency, responsible ingredient selection, and accessible wellness-oriented goods. Honest products are sold through the company’s direct-to-consumer platform and through retail partners, primarily serving customers in the United States.

The Honest Company is headquartered in Los Angeles, California, and trades on the Nasdaq under the symbol HNST.