Brokerages Set The Honest Company, Inc. (NASDAQ:HNST) Price Target at $7.70

The Honest Company, Inc. (NASDAQ:HNST - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $7.70.

Separately, Telsey Advisory Group reiterated a "market perform" rating and issued a $7.00 target price on shares of Honest in a research report on Thursday.

Honest Stock Performance

Shares of Honest stock traded up $0.46 on Thursday, hitting $4.84. The company's stock had a trading volume of 5,969,322 shares, compared to its average volume of 2,236,742. The company has a market capitalization of $533.55 million, a price-to-earnings ratio of -121.00 and a beta of 2.43. Honest has a 1 year low of $2.40 and a 1 year high of $8.97. The firm has a fifty day moving average price of $4.73 and a 200-day moving average price of $5.75.

Honest (NASDAQ:HNST - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. The business had revenue of $97.25 million during the quarter, compared to the consensus estimate of $92.46 million. As a group, analysts forecast that Honest will post -0.07 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HNST. Vanguard Group Inc. increased its position in Honest by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,208,668 shares of the company's stock worth $24,481,000 after purchasing an additional 61,299 shares during the last quarter. XTX Topco Ltd increased its holdings in shares of Honest by 39.1% during the 1st quarter. XTX Topco Ltd now owns 124,672 shares of the company's stock worth $586,000 after buying an additional 35,021 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Honest by 68.2% during the 1st quarter. GSA Capital Partners LLP now owns 272,284 shares of the company's stock worth $1,280,000 after buying an additional 110,408 shares during the last quarter. Bailard Inc. purchased a new stake in shares of Honest during the 1st quarter valued at approximately $78,000. Finally, Victory Capital Management Inc. lifted its holdings in Honest by 98.8% in the first quarter. Victory Capital Management Inc. now owns 3,073,471 shares of the company's stock valued at $14,445,000 after acquiring an additional 1,527,080 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company's stock.

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.