The Honest Company, Inc. (NASDAQ:HNST) Receives $7.42 Average Price Target from Brokerages

The Honest Company, Inc. (NASDAQ:HNST - Get Free Report) has been given an average rating of "Moderate Buy" by the seven research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $7.42.

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

Insider Transactions at Honest

In other Honest news, insider Stephen Winchell sold 20,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $4.98, for a total transaction of $99,600.00. Following the completion of the transaction, the insider now directly owns 431,844 shares of the company's stock, valued at $2,150,583.12. This trade represents a 4.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Mayle sold 37,481 shares of the company's 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 completion of the sale, the senior vice president now owns 307,740 shares in the company, valued at approximately $1,498,693.80. This trade represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company's stock.

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Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Honest by 25.7% during the fourth quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company's stock worth $35,671,000 after purchasing an additional 1,052,305 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its position in shares of Honest by 6.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company's stock worth $11,295,000 after buying an additional 191,547 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of Honest by 589.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,397,636 shares of the company's stock valued at $16,616,000 after buying an additional 2,049,981 shares during the period. Renaissance Technologies LLC grew its position in shares of Honest by 20.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,372,200 shares of the company's stock valued at $16,439,000 after buying an additional 398,603 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in Honest by 103.5% during the fourth quarter. Nuveen Asset Management LLC now owns 2,046,868 shares of the company's stock worth $14,185,000 after acquiring an additional 1,041,040 shares during the period. Institutional investors and hedge funds own 45.54% of the company's stock.

Honest Trading Down 1.6 %

NASDAQ:HNST traded down $0.08 on Wednesday, hitting $5.07. 1,619,037 shares of the stock were exchanged, compared to its average volume of 2,028,328. The stock has a market cap of $552.17 million, a PE ratio of -126.75 and a beta of 2.45. Honest has a fifty-two week low of $2.40 and a fifty-two week high of $8.97. The stock has a fifty day moving average of $5.75 and a 200-day moving average of $5.55.

Honest (NASDAQ:HNST - Get Free Report) last announced its quarterly 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. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. The firm had revenue of $99.84 million for the quarter, compared to analysts' expectations of $96.46 million. As a group, analysts predict that Honest will post -0.07 earnings per share for the current year.

About Honest

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.