The Honest Company, Inc. (NASDAQ:HNST) Receives $6.79 Average Target Price from Analysts

Shares of The Honest Company, Inc. (NASDAQ:HNST) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research 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 1-year price target among brokerages that have updated their coverage on the stock in the last year is $6.79.

A number of research firms recently issued reports on HNST. Alliance Global Partners upped their target price on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note 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 research note on Tuesday, December 17th. B. Riley upped their target price on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group lifted their price target on shares of Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a report on Wednesday, November 13th. Finally, Northland Securities upped 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.

Insider Buying and Selling

In other news, General Counsel Brendan Sheehey sold 107,653 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $7.01, for a total transaction of $754,647.53. Following the completion of the sale, the general counsel now directly owns 517,861 shares in the company, valued at $3,630,205.61. This represents a 17.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO David Loretta sold 27,004 shares of Honest stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total value of $191,728.40. Following the completion of the transaction, the chief financial officer now owns 960,753 shares in the company, valued at $6,821,346.30. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 799,818 shares of company stock valued at $5,975,421. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HNST. Zacks Investment Management acquired a new stake in shares of Honest in the third quarter worth $37,000. Creative Planning acquired a new stake in Honest in the 3rd quarter valued at $39,000. Wealth Enhancement Advisory Services LLC purchased a new position in Honest in the third quarter valued at about $40,000. Panagora Asset Management Inc. acquired a new position in shares of Honest during the second quarter worth about $43,000. Finally, Castleview Partners LLC purchased a new stake in shares of Honest in the third quarter worth about $71,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Honest Trading Down 1.5 %

Shares of HNST opened at $6.51 on Friday. Honest has a 12-month low of $2.40 and a 12-month high of $8.97. The stock has a market cap of $657.26 million, a P/E ratio of -162.75 and a beta of 2.45. The company has a 50-day moving average of $6.68 and a two-hundred day moving average of $4.73.

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.