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

Shares of The Honest Company, Inc. (NASDAQ:HNST) have received a consensus recommendation of “Hold” from the eight research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $3.4667.

HNST has been the subject of several research analyst reports. Alliance Global Partners reiterated a “buy” rating on shares of Honest in a research report on Thursday, May 7th. Zacks Research upgraded Honest from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 26th. Morgan Stanley set a $3.40 price target 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 report on Saturday, May 9th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $4.00 target price on shares of Honest in a research note on Thursday, May 7th.

Honest Stock Performance

Shares of NASDAQ:HNST traded up $0.00 on Tuesday, hitting $3.94. The stock had a trading volume of 113,678 shares, compared to its average volume of 1,752,128. The company has a market capitalization of $433.83 million, a price-to-earnings ratio of -23.26 and a beta of 2.11. Honest has a twelve month low of $2.07 and a twelve month high of $5.28. The firm’s 50 day moving average price is $3.50 and its 200-day moving average price is $2.97.

Honest (NASDAQ:HNST) last posted its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $78.10 million during the quarter, compared to analysts’ expectations of $76.25 million. Honest had a negative net margin of 5.39% and a positive return on equity of 3.52%. As a group, sell-side analysts predict that Honest will post 0.1 EPS for the current year.

Insider Activity at Honest

In other news, CEO Carla Vernon sold 119,389 shares of Honest stock in a transaction on Wednesday, May 20th. The stock was 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 directly owned 3,946,451 shares of the company’s stock, valued at approximately $12,391,856.14. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Brendan Sheehey sold 9,784 shares of the business’s stock in a transaction on 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 owned 715,888 shares of the company’s stock, valued at approximately $2,247,888.32. The trade was a 1.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 175,058 shares of company stock worth $550,591. 9.40% of the stock is currently owned by company insiders.

Institutional Trading of Honest

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its position in Honest by 1,392.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,073 shares of the company’s stock valued at $26,000 after purchasing an additional 6,599 shares during the period. Amicus Financial Advisors LLC bought a new stake in shares of Honest during the 4th quarter valued at $29,000. Wealthcare Advisory Partners LLC bought a new stake in Honest in the fourth quarter valued at about $32,000. Hibernia Wealth Partners LLC bought a new stake in shares of Honest in the 4th quarter valued at about $32,000. Finally, Equity Wealth Partners LLC bought a new stake in Honest in the third quarter valued at approximately $37,000. 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.