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

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

Separately, Telsey Advisory Group reissued a "market perform" rating and issued a $7.00 target price on shares of Honest in a report on Thursday, May 8th.

Insider Activity

In related news, insider Stephen Winchell sold 10,746 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $5.32, for a total value of $57,168.72. Following the transaction, the insider directly owned 421,098 shares of the company's stock, valued at approximately $2,240,241.36. This trade represents a 2.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Loretta sold 34,389 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $5.32, for a total value of $182,949.48. Following the completion of the sale, the chief financial officer owned 883,153 shares of the company's stock, valued at approximately $4,698,373.96. The trade was a 3.75% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,726 shares of company stock worth $881,662. Company insiders own 8.90% of the company's stock.

Institutional Investors Weigh In On Honest

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in Honest by 12.0% during the fourth quarter. Rhumbline Advisers now owns 109,943 shares of the company's stock valued at $762,000 after acquiring an additional 11,794 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Honest during the fourth quarter worth about $756,000. New York State Common Retirement Fund raised its stake in Honest by 39.3% during the 4th quarter. New York State Common Retirement Fund now owns 197,346 shares of the company's stock valued at $1,368,000 after purchasing an additional 55,699 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Honest during the 4th quarter valued at approximately $409,000. Finally, Bank of New York Mellon Corp lifted its holdings in Honest by 45.2% in the 4th quarter. Bank of New York Mellon Corp now owns 377,724 shares of the company's stock worth $2,618,000 after purchasing an additional 117,612 shares in the last quarter. 45.54% of the stock is owned by hedge funds and other institutional investors.

Honest Stock Performance

Shares of Honest stock traded up $0.21 during midday trading on Friday, hitting $5.09. The company had a trading volume of 2,469,186 shares, compared to its average volume of 2,441,648. Honest has a 52-week low of $2.71 and a 52-week high of $8.97. The stock has a market capitalization of $561.12 million, a P/E ratio of -254.50 and a beta of 2.39. The company has a 50 day moving average of $4.88 and a 200 day moving average of $5.40.

Honest (NASDAQ:HNST - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. Honest had a negative return on equity of 0.95% and a negative net margin of 0.38%. The business had revenue of $97.25 million during the quarter, compared to analyst estimates of $92.46 million. Equities research analysts forecast that Honest will post -0.07 EPS 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.