The Honest Company, Inc. (NASDAQ:HNST) Given Consensus Recommendation of “Reduce” by Brokerages

by · The Markets Daily

Shares of The Honest Company, Inc. (NASDAQ:HNST – Get Free Report) have earned a consensus rating of “Reduce” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $3.00.

A number of equities research analysts have weighed in on the company. Telsey Advisory Group decreased their price objective on Honest from $6.00 to $3.00 and set a “market perform” rating on the stock in a report on Thursday, November 6th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Honest in a research report on Friday. Morgan Stanley decreased their price target on Honest from $4.25 to $3.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 19th. B. Riley reiterated a “buy” rating on shares of Honest in a research note on Thursday, November 6th. Finally, Lake Street Capital cut Honest from a “buy” rating to a “hold” rating and set a $3.00 price objective for the company. in a report on Thursday, November 6th.

View Our Latest Analysis on HNST

Insider Transactions at Honest

In other Honest news, CEO Carla Vernon sold 97,505 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $2.60, for a total value of $253,513.00. Following the transaction, the chief executive officer directly owned 2,901,488 shares in the company, valued at $7,543,868.80. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Winchell sold 10,595 shares of Honest stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $2.60, for a total transaction of $27,547.00. Following the completion of the transaction, the insider owned 399,662 shares of the company’s stock, valued at $1,039,121.20. This trade represents a 2.58% decrease in their position. The disclosure for this sale is available in the SEC filing. 8.90% of the stock is owned by insiders.

Institutional Trading of Honest

A number of hedge funds and other institutional investors have recently made changes to their positions in HNST. Portolan Capital Management LLC lifted its position in Honest by 11.4% during the 3rd quarter. Portolan Capital Management LLC now owns 6,928,004 shares of the company’s stock worth $25,495,000 after buying an additional 710,651 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its stake in shares of Honest by 5.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,999,546 shares of the company’s stock worth $11,038,000 after acquiring an additional 151,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Honest by 8.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,259,540 shares of the company’s stock worth $8,315,000 after purchasing an additional 171,425 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Honest by 10.5% during the second quarter. Geode Capital Management LLC now owns 2,068,945 shares of the company’s stock valued at $10,532,000 after purchasing an additional 196,218 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Honest by 16.4% during the first quarter. Millennium Management LLC now owns 1,936,846 shares of the company’s stock valued at $9,103,000 after purchasing an additional 272,765 shares during the last quarter. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Honest Trading Down 3.9%

Shares of NASDAQ HNST opened at $2.49 on Tuesday. The firm has a market capitalization of $278.36 million, a price-to-earnings ratio of 41.50 and a beta of 2.30. Honest has a one year low of $2.31 and a one year high of $6.80. The business has a fifty day simple moving average of $2.67 and a 200 day simple moving average of $3.55.

Honest (NASDAQ:HNST – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. The firm had revenue of $92.57 million for the quarter, compared to analyst estimates of $99.43 million. Honest had a net margin of 1.85% and a return on equity of 3.86%. On average, research analysts anticipate that Honest will post -0.07 earnings per share for the current fiscal year.

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.

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