The Honest Company, Inc. (NASDAQ:HNST) Receives $3.47 Consensus Price Target from Analysts

The Honest Company, Inc. (NASDAQ:HNSTGet Free Report) has earned a consensus rating of “Hold” from the eight research firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $3.4667.

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

Check Out Our Latest Analysis on Honest

Insider Buying and Selling

In other news, CEO Carla Vernon sold 129,335 shares of Honest stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $2.85, for a total value of $368,604.75. Following the transaction, the chief executive officer directly owned 4,065,546 shares in the company, valued at approximately $11,586,806.10. This trade represents a 3.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Mayle sold 12,725 shares of Honest stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $2.85, for a total value of $36,266.25. Following the completion of the transaction, the senior vice president owned 455,391 shares in the company, valued at $1,297,864.35. This represents a 2.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 366,952 shares of company stock valued at $1,097,489 over the last ninety days. Company insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Portolan Capital Management LLC increased its holdings in shares of Honest by 11.4% in the 3rd quarter. Portolan Capital Management LLC now owns 6,928,004 shares of the company’s stock valued at $25,495,000 after acquiring an additional 710,651 shares during the period. AXQ Capital LP purchased a new position in shares of Honest in the 3rd quarter valued at $286,000. Wealthfront Advisers LLC purchased a new position in shares of Honest in the 3rd quarter valued at $75,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Honest by 18.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 21,366 shares of the company’s stock valued at $81,000 after acquiring an additional 3,365 shares during the period. Finally, CWM LLC increased its holdings in shares of Honest by 17.1% in the 3rd quarter. CWM LLC now owns 27,342 shares of the company’s stock valued at $101,000 after acquiring an additional 3,985 shares during the period. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

Honest Price Performance

Shares of NASDAQ HNST opened at $3.41 on Monday. The business has a fifty day simple moving average of $3.12 and a two-hundred day simple moving average of $2.78. The firm has a market cap of $375.37 million, a PE ratio of -20.06 and a beta of 2.15. Honest has a twelve month low of $2.07 and a twelve month high of $5.28.

Honest (NASDAQ:HNSTGet Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $78.10 million during the quarter, compared to analyst estimates of $76.25 million. Honest had a positive return on equity of 3.52% and a negative net margin of 5.39%. On average, research analysts expect that Honest will post 0.1 earnings per share for the current year.

Honest declared that its Board of Directors has approved a share repurchase program on Friday, February 20th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the company to reacquire up to 9.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Honest Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Honest (NASDAQ:HNST)

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