The Honest Company, Inc. (NASDAQ:HNST) Stock Now Rated “Hold” by Sell-Side Brokerages

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

HNST has been the subject of a number of recent analyst reports. B. Riley Financial upped their target price on Honest from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded Honest from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Freedom Capital upgraded Honest from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Alliance Global Partners reaffirmed a “buy” rating on shares of Honest in a research note on Thursday, August 6th. Finally, Northland Securities set a $5.50 price objective on Honest in a research note on Thursday, August 6th.

Honest Stock Down 4.1%

Shares of HNST stock opened at $4.86 on Thursday. The firm has a market cap of $534.99 million, a PE ratio of -44.18 and a beta of 2.32. Honest has a 12 month low of $2.07 and a 12 month high of $6.01. The company’s fifty day simple moving average is $5.28 and its 200-day simple moving average is $4.20.

Honest (NASDAQ:HNST) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. Honest had a negative net margin of 3.56% and a positive return on equity of 4.31%. The firm had revenue of $80.19 million during the quarter, compared to analysts’ expectations of $77.83 million. On average, equities analysts predict that Honest will post 0.05 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Andrea Turner sold 29,899 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $5.21, for a total transaction of $155,773.79. Following the completion of the transaction, the director owned 252,405 shares in the company, valued at approximately $1,315,030.05. This represents a 10.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Brendan Sheehey sold 9,664 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $4.99, for a total value of $48,223.36. Following the sale, the general counsel directly owned 706,224 shares in the company, valued at $3,524,057.76. This trade represents a 1.35% 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 294,149 shares of company stock valued at $1,503,306. Corporate insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Honest

Several hedge funds have recently bought and sold shares of HNST. Prime Capital Investment Advisors LLC purchased a new position in Honest in the 3rd quarter worth approximately $196,000. Green Alpha Advisors LLC increased its stake in shares of Honest by 30.1% during the third quarter. Green Alpha Advisors LLC now owns 387,992 shares of the company’s stock valued at $1,990,000 after purchasing an additional 89,720 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Honest by 45.8% during the second quarter. Allworth Financial LP now owns 7,038 shares of the company’s stock valued at $26,000 after purchasing an additional 2,211 shares during the last quarter. Corient Private Wealth LP purchased a new stake in shares of Honest in the 2nd quarter worth approximately $87,000. Finally, Amundi purchased a new position in shares of Honest in the 2nd quarter worth about $44,000. 45.54% of the stock is currently 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.