Brokerages Set The Honest Company, Inc. (NASDAQ:HNST) Price Target at $7.42

Shares of The Honest Company, Inc. (NASDAQ:HNST) have been given an average recommendation of “Moderate Buy” by the seven research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $7.42.

Several analysts have recently issued reports on the stock. Telsey Advisory Group restated a “market perform” rating and set a $7.00 target price on shares of Honest in a research report on Thursday, February 27th. Loop Capital lowered Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research note on Tuesday, December 17th. Finally, Northland Securities lifted their target price on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

Insider Buying and Selling at Honest

In other news, insider Stephen Winchell sold 20,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $4.98, for a total value of $99,600.00. Following the transaction, the insider now directly owns 431,844 shares in the company, valued at approximately $2,150,583.12. This represents a 4.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jonathan Mayle sold 37,481 shares of Honest stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $4.87, for a total transaction of $182,532.47. Following the sale, the senior vice president now owns 307,740 shares of the company’s stock, valued at $1,498,693.80. The trade was a 10.86 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. D. E. Shaw & Co. Inc. grew its position in shares of Honest by 589.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,397,636 shares of the company’s stock worth $16,616,000 after buying an additional 2,049,981 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Honest by 869.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,546,391 shares of the company’s stock worth $10,716,000 after acquiring an additional 1,386,961 shares in the last quarter. Vanguard Group Inc. increased its position in Honest by 25.7% during the 4th quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company’s stock valued at $35,671,000 after purchasing an additional 1,052,305 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Honest by 103.5% in the 4th quarter. Nuveen Asset Management LLC now owns 2,046,868 shares of the company’s stock valued at $14,185,000 after purchasing an additional 1,041,040 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Honest by 1,504.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 851,436 shares of the company’s stock worth $3,040,000 after purchasing an additional 798,384 shares during the period. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

Honest Price Performance

NASDAQ HNST opened at $5.02 on Wednesday. Honest has a 1-year low of $2.40 and a 1-year high of $8.97. The business has a 50 day simple moving average of $5.77 and a two-hundred day simple moving average of $5.54. The stock has a market capitalization of $546.73 million, a PE ratio of -125.50 and a beta of 2.45.

Honest (NASDAQ:HNST) last posted its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $99.84 million during the quarter, compared to analyst estimates of $96.46 million. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. On average, analysts anticipate that Honest will post -0.07 EPS for the current fiscal year.

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.