Brokerages Set The Honest Company, Inc. (NASDAQ:HNST) Target Price at $6.96

The Honest Company, Inc. (NASDAQ:HNST) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $6.9583.

A number of research firms recently commented on HNST. Morgan Stanley dropped their price target on Honest from $5.50 to $4.25 and set an “equal weight” rating for the company in a research note on Friday, August 15th. Zacks Research raised Honest from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Telsey Advisory Group dropped their price target on Honest from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Thursday, August 7th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Honest in a research note on Wednesday.

Honest Stock Down 2.6%

HNST stock opened at $3.72 on Friday. The company has a market cap of $413.92 million, a PE ratio of 74.41 and a beta of 2.29. The business has a 50-day simple moving average of $3.93 and a 200 day simple moving average of $4.48. Honest has a 52 week low of $3.49 and a 52 week high of $8.97.

Honest (NASDAQ:HNST) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The company had revenue of $93.46 million during the quarter, compared to analyst estimates of $92.18 million. Honest had a net margin of 1.66% and a return on equity of 3.84%. On average, analysts anticipate that Honest will post -0.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Honest news, CEO Carla Vernon sold 99,328 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total transaction of $362,547.20. Following the completion of the transaction, the chief executive officer owned 2,998,993 shares of the company’s stock, valued at approximately $10,946,324.45. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Brendan Sheehey sold 12,059 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total value of $44,015.35. Following the transaction, the general counsel directly owned 568,588 shares of the company’s stock, valued at approximately $2,075,346.20. The trade was a 2.08% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,890 shares of company stock valued at $481,399. 8.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Summit Securities Group LLC raised its stake in Honest by 6,101.8% during the first quarter. Summit Securities Group LLC now owns 6,822 shares of the company’s stock worth $32,000 after acquiring an additional 6,712 shares in the last quarter. Strategic Blueprint LLC bought a new stake in shares of Honest during the second quarter worth about $52,000. DRW Securities LLC bought a new stake in shares of Honest during the first quarter worth about $58,000. State of Wyoming bought a new stake in shares of Honest during the second quarter worth about $61,000. Finally, Ethos Financial Group LLC bought a new stake in shares of Honest during the second quarter worth about $62,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

Honest Company Profile

The Honest Company, Inc manufactures and sells diapers and wipes, skin and personal care, and household and wellness products. The company also offers baby clothing and nursery bedding products. It sells its products through digital and retail sales channels, such as its website and third-party ecommerce sites, as well as brick and mortar retailers.