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

Shares of The Honest Company, Inc. (NASDAQ:HNST) have earned an average recommendation of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $6.79.

A number of research analysts have recently weighed in on HNST shares. Northland Securities raised their price target on shares of Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Alliance Global Partners boosted their price target on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Loop Capital lowered Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective on the stock. in a report on Tuesday, December 17th. Telsey Advisory Group raised their price objective on Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Finally, B. Riley increased their price target on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th.

Insider Buying and Selling at Honest

In other Honest news, General Counsel Brendan Sheehey sold 8,392 shares of the company’s 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 $59,583.20. Following the completion of the transaction, the general counsel now owns 516,816 shares of the company’s stock, valued at $3,669,393.60. This represents a 1.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 799,818 shares of company stock valued at $5,975,421 in the last ninety days. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Honest

A number of hedge funds and other institutional investors have recently made changes to their positions in HNST. Zacks Investment Management acquired a new position in Honest in the third quarter worth about $37,000. Creative Planning acquired a new position in shares of Honest in the 3rd quarter worth approximately $39,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Honest during the 3rd quarter worth approximately $40,000. Panagora Asset Management Inc. acquired a new stake in Honest in the 2nd quarter valued at $43,000. Finally, Castleview Partners LLC bought a new stake in Honest in the third quarter valued at $71,000. 45.54% of the stock is owned by institutional investors.

Honest Stock Performance

NASDAQ:HNST opened at $6.79 on Friday. The company has a market capitalization of $685.53 million, a P/E ratio of -169.75 and a beta of 2.42. The stock’s 50 day moving average price is $6.52 and its 200 day moving average price is $4.62. Honest has a 52 week low of $2.40 and a 52 week high of $8.97.

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.