Telsey Advisory Group Forecasts Strong Price Appreciation for Honest (NASDAQ:HNST) Stock

Honest (NASDAQ:HNST) had its target price boosted by investment analysts at Telsey Advisory Group from $6.00 to $7.00 in a research report issued on Friday, MarketBeat.com reports. The brokerage presently has a “market perform” rating on the stock. Telsey Advisory Group’s price objective suggests a potential upside of 18.64% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Northland Securities increased their price objective on Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. B. Riley increased their price target on shares of Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective on the stock. in a research note on Tuesday, December 17th. Finally, Alliance Global Partners increased their target price on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.93.

Honest Stock Performance

Honest stock opened at $5.90 on Friday. The company has a market capitalization of $595.67 million, a P/E ratio of -147.50 and a beta of 2.45. Honest has a fifty-two week low of $2.40 and a fifty-two week high of $8.97. The stock has a 50-day simple moving average of $6.83 and a 200-day simple moving average of $4.79.

Insider Transactions at Honest

In related news, EVP Stephen Winchell sold 7,123 shares of Honest stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total value of $50,573.30. Following the sale, the executive vice president now directly owns 382,613 shares in the company, valued at $2,716,552.30. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Brendan Sheehey sold 107,653 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.01, for a total transaction of $754,647.53. Following the completion of the transaction, the general counsel now directly owns 517,861 shares of the company’s stock, valued at approximately $3,630,205.61. This trade represents a 17.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 799,818 shares of company stock worth $5,975,421 over the last ninety days. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Honest

A number of institutional investors and hedge funds have recently modified their holdings of the company. Zacks Investment Management purchased a new position in Honest in the 3rd quarter valued at about $37,000. Creative Planning acquired a new stake in Honest during the third quarter worth approximately $39,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Honest in the 3rd quarter worth approximately $40,000. Castleview Partners LLC acquired a new position in Honest in the 3rd quarter valued at $71,000. Finally, US Bancorp DE purchased a new position in shares of Honest during the 3rd quarter worth $78,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.