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

The Honest Company, Inc. (NASDAQ:HNST – Get Rating) has earned a consensus rating of “Hold” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has 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 price objective among analysts that have issued a report on the stock in the last year is $4.88.

HNST has been the subject of several research analyst reports. Morgan Stanley cut their price objective on Honest from $4.00 to $3.75 and set an “equal weight” rating for the company in a research report on Friday, November 11th. JPMorgan Chase & Co. cut their price objective on Honest from $6.00 to $5.00 and set an “overweight” rating for the company in a research report on Thursday, October 13th. Finally, Telsey Advisory Group cut their price objective on Honest from $8.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, November 11th.

Honest Stock Performance

HNST opened at $2.82 on Friday. The company has a market cap of $261.34 million, a PE ratio of -5.64 and a beta of 0.27. The stock has a 50-day moving average of $2.95 and a 200-day moving average of $3.35. Honest has a 52-week low of $2.54 and a 52-week high of $6.85.

Honest (NASDAQ:HNST – Get Rating) last released its quarterly earnings results on Thursday, November 10th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.05). Honest had a negative return on equity of 27.30% and a negative net margin of 14.56%. The company had revenue of $84.58 million for the quarter, compared to the consensus estimate of $84.47 million. On average, research analysts predict that Honest will post -0.44 earnings per share for the current year.

Insider Buying and Selling at Honest

In other news, CEO Nikolaos A. Vlahos sold 17,326 shares of the stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $2.90, for a total value of $50,245.40. Following the completion of the transaction, the chief executive officer now directly owns 1,246,728 shares of the company’s stock, valued at approximately $3,615,511.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 34,915 shares of company stock valued at $102,258 in the last quarter. Corporate insiders own 26.20% of the company’s stock.

Hedge Funds Weigh In On Honest

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers raised its holdings in shares of Honest by 4.0% in the 2nd quarter. Rhumbline Advisers now owns 92,277 shares of the company’s stock worth $269,000 after buying an additional 3,590 shares in the last quarter. Swiss National Bank grew its position in Honest by 8.4% during the 1st quarter. Swiss National Bank now owns 64,600 shares of the company’s stock worth $337,000 after acquiring an additional 5,000 shares during the last quarter. Bank of Montreal Can grew its position in Honest by 37.4% during the 2nd quarter. Bank of Montreal Can now owns 19,383 shares of the company’s stock worth $61,000 after acquiring an additional 5,275 shares during the last quarter. Federated Hermes Inc. grew its position in Honest by 82.6% during the 1st quarter. Federated Hermes Inc. now owns 12,361 shares of the company’s stock worth $64,000 after acquiring an additional 5,590 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in Honest by 25.2% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 36,815 shares of the company’s stock worth $129,000 after acquiring an additional 7,415 shares during the last quarter. 41.17% of the stock is owned by institutional investors and hedge funds.

About Honest

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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.