The Honest Company, Inc. (NASDAQ:HNST) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of The Honest Company, Inc. (NASDAQ:HNST) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $6.93.

Several research firms recently commented on HNST. Telsey Advisory Group raised their target price on Honest from $6.00 to $7.00 and gave the company a “market perform” rating in a research report on Friday, January 10th. Northland Securities lifted their price objective on shares of Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a research report on Tuesday, December 17th. Alliance Global Partners boosted their price target on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, B. Riley increased their price objective on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th.

Honest Trading Down 1.5 %

NASDAQ HNST opened at $6.04 on Tuesday. The company has a 50-day moving average price of $7.06 and a two-hundred day moving average price of $5.06. The stock has a market cap of $609.80 million, a price-to-earnings ratio of -151.00 and a beta of 2.45. Honest has a 52 week low of $2.40 and a 52 week high of $8.97.

Insider Buying and Selling

In related news, CEO Carla Vernon sold 65,176 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total value of $462,749.60. Following the completion of the transaction, the chief executive officer now owns 2,763,143 shares in the company, valued at $19,618,315.30. This trade represents a 2.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Brendan Sheehey sold 8,392 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total value of $59,583.20. Following the sale, the general counsel now owns 516,816 shares in the company, valued at approximately $3,669,393.60. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 799,818 shares of company stock worth $5,975,421. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Honest

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zacks Investment Management purchased a new stake in shares of Honest in the third quarter valued at $37,000. Creative Planning purchased a new stake in Honest in the 3rd quarter worth about $39,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Honest during the 3rd quarter worth about $40,000. Castleview Partners LLC purchased a new position in Honest during the 3rd quarter valued at about $71,000. Finally, US Bancorp DE acquired a new position in shares of Honest in the 3rd quarter valued at about $78,000. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

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.