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

The Honest Company, Inc. (NASDAQ:HNST) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $6.9583.

Several research analysts recently issued reports on the stock. Zacks Research upgraded shares of Honest from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Weiss Ratings cut Honest from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Morgan Stanley dropped their price objective on Honest from $5.50 to $4.25 and set an “equal weight” rating for the company in a report on Friday, August 15th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $6.00 price objective on shares of Honest in a report on Thursday.

Honest Stock Up 0.6%

Shares of NASDAQ HNST opened at $3.41 on Thursday. The firm’s 50-day simple moving average is $3.80 and its 200 day simple moving average is $4.38. The company has a market cap of $379.43 million, a price-to-earnings ratio of 68.21 and a beta of 2.29. Honest has a 12-month low of $3.37 and a 12-month high of $8.97.

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

Insiders Place Their Bets

In other Honest news, General Counsel Brendan Sheehey sold 12,059 shares of Honest stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $3.65, for a total transaction of $44,015.35. Following the completion of the sale, the general counsel 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carla Vernon sold 99,328 shares of Honest stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total transaction of $362,547.20. Following the sale, the chief executive officer directly owned 2,998,993 shares of the company’s stock, valued at $10,946,324.45. This represents a 3.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 131,890 shares of company stock valued at $481,399. Company insiders own 8.90% of the company’s stock.

Institutional Trading of Honest

Institutional investors and hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC increased its stake in shares of Honest by 6,101.8% in the 1st quarter. Summit Securities Group LLC now owns 6,822 shares of the company’s stock valued at $32,000 after acquiring an additional 6,712 shares during the last quarter. Strategic Blueprint LLC bought a new stake in shares of Honest in the 2nd quarter valued at about $52,000. State of Wyoming bought a new stake in shares of Honest in the 2nd quarter valued at about $61,000. Ethos Financial Group LLC bought a new stake in shares of Honest in the 2nd quarter valued at about $62,000. Finally, DRW Securities LLC bought a new stake in shares of Honest in the 1st quarter valued at about $58,000. 45.54% of the stock is owned by institutional investors.

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.