Analysts Set The Honest Company, Inc. (NASDAQ:HNST) Price Target at $4.84

Shares of The Honest Company, Inc. (NASDAQ:HNST) have been given a consensus rating of “Hold” by the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $4.84.

Several brokerages have recently issued reports on HNST. B. Riley Financial upped their price objective on Honest from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Northland Securities set a $5.50 price target on shares of Honest in a research report on Thursday, August 6th. Freedom Capital raised shares of Honest from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Honest from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Honest in a research report on Thursday, August 6th.

Honest Trading Down 1.6%

NASDAQ HNST opened at $5.67 on Wednesday. Honest has a 12 month low of $2.07 and a 12 month high of $5.96. The stock has a market cap of $624.15 million, a P/E ratio of -51.55 and a beta of 2.12. The stock’s fifty day moving average price is $4.28 and its 200-day moving average price is $3.48.

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

Insider Activity

In related news, SVP Jonathan Mayle sold 6,161 shares of Honest stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $4.99, for a total value of $30,743.39. Following the completion of the transaction, the senior vice president owned 363,994 shares in the company, valued at approximately $1,816,330.06. This trade represents a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Turner sold 29,899 shares of the business’s stock in a transaction that occurred 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 sale, the director directly 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. The SEC filing for this sale provides additional information. In the last three months, insiders sold 294,149 shares of company stock worth $1,503,306. 9.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Honest

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS Group AG lifted its position in shares of Honest by 77.3% during the fourth quarter. UBS Group AG now owns 1,014,939 shares of the company’s stock worth $2,619,000 after purchasing an additional 442,542 shares during the last quarter. Green Alpha Advisors LLC purchased a new position in Honest in the 2nd quarter worth about $1,092,000. Quantbot Technologies LP purchased a new position in Honest in the 2nd quarter worth about $279,000. Wealthfront Advisers LLC lifted its holdings in Honest by 24.0% during the 4th quarter. Wealthfront Advisers LLC now owns 25,177 shares of the company’s stock valued at $65,000 after buying an additional 4,873 shares in the last quarter. Finally, Allworth Financial LP bought a new stake in Honest during the 2nd quarter valued at about $26,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.