The Honest Company, Inc. (NASDAQ:HNST) Receives Average Recommendation of “Hold” from Analysts

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

A number of analysts recently issued reports on the company. Lake Street Capital cut Honest from a “buy” rating to a “hold” rating and set a $3.00 target price for the company. in a research note on Thursday, November 6th. Weiss Ratings downgraded shares of Honest from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. B. Riley reaffirmed a “buy” rating on shares of Honest in a research report on Thursday, November 6th. Zacks Research cut Honest from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Finally, Telsey Advisory Group dropped their price target on Honest from $6.00 to $3.00 and set a “market perform” rating on the stock in a research note on Thursday, November 6th.

Insider Buying and Selling

In other news, insider Stephen Winchell sold 10,595 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $2.60, for a total value of $27,547.00. Following the sale, the insider owned 399,662 shares of the company’s stock, valued at $1,039,121.20. The trade was a 2.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Carla Vernon sold 97,505 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $2.60, for a total transaction of $253,513.00. Following the transaction, the chief executive officer owned 2,901,488 shares of the company’s stock, valued at $7,543,868.80. The trade was a 3.25% decrease in their position. The SEC filing for this sale provides additional information. 8.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Honest

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Honest by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 5,208,668 shares of the company’s stock worth $24,481,000 after buying an additional 61,299 shares during the last quarter. Nuveen LLC acquired a new position in Honest during the first quarter valued at approximately $10,554,000. Algert Global LLC boosted its position in Honest by 4.9% during the first quarter. Algert Global LLC now owns 385,056 shares of the company’s stock valued at $1,810,000 after purchasing an additional 17,820 shares during the last quarter. Versor Investments LP grew its stake in Honest by 178.5% in the first quarter. Versor Investments LP now owns 106,100 shares of the company’s stock valued at $499,000 after purchasing an additional 68,000 shares in the last quarter. Finally, Trexquant Investment LP increased its position in shares of Honest by 23.5% during the 1st quarter. Trexquant Investment LP now owns 442,831 shares of the company’s stock worth $2,081,000 after purchasing an additional 84,226 shares during the last quarter. 45.54% of the stock is owned by institutional investors.

Honest Stock Down 0.4%

HNST opened at $2.70 on Friday. The stock has a market cap of $301.83 million, a P/E ratio of 45.00 and a beta of 2.30. Honest has a 12 month low of $2.31 and a 12 month high of $7.13. The company has a fifty day simple moving average of $2.96 and a 200 day simple moving average of $3.82.

Honest (NASDAQ:HNST) last posted its earnings results on Wednesday, November 5th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Honest had a return on equity of 3.86% and a net margin of 1.85%.The firm had revenue of $92.57 million during the quarter, compared to analysts’ expectations of $99.43 million. On average, equities research analysts expect that Honest will post -0.07 earnings per share for the current fiscal year.

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.