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

Honest (NASDAQ:HNST) had its target price hoisted by equities researchers at Telsey Advisory Group from $6.00 to $7.00 in a report released on Friday, Marketbeat.com reports. The brokerage presently has a “market perform” rating on the stock. Telsey Advisory Group’s price target points to a potential upside of 10.58% from the stock’s previous close.

A number of other brokerages have also issued reports on HNST. Alliance Global Partners increased their price target on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. B. Riley raised their target price on Honest from $6.50 to $7.00 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 target price on the stock. in a report on Tuesday, December 17th. Finally, Northland Securities upped 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. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.93.

Honest Price Performance

Shares of HNST stock opened at $6.33 on Friday. The firm has a fifty day moving average of $6.79 and a two-hundred day moving average of $4.75. The firm has a market cap of $639.08 million, a P/E ratio of -158.25 and a beta of 2.45. Honest has a 1-year low of $2.40 and a 1-year high of $8.97.

Insider Activity

In related news, Director Jessica Warren sold 465,000 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the completion of the sale, the director now owns 1,170,058 shares in the company, valued at $8,833,937.90. This trade represents a 28.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Carla Vernon sold 65,176 shares of the firm’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 transaction of $462,749.60. Following the sale, the chief executive officer now directly owns 2,763,143 shares of the company’s stock, valued at approximately $19,618,315.30. The trade was a 2.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 799,818 shares of company stock valued at $5,975,421. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Honest

A number of institutional investors have recently modified their holdings of HNST. Zacks Investment Management bought a new position in Honest in the 3rd quarter valued at $37,000. Creative Planning acquired a new position in shares of Honest during the third quarter valued at $39,000. Wealth Enhancement Advisory Services LLC bought a new position in Honest in the third quarter valued at about $40,000. Castleview Partners LLC acquired a new stake in Honest in the third quarter worth about $71,000. Finally, US Bancorp DE bought a new stake in Honest during the 3rd quarter worth about $78,000. 45.54% of the stock is owned by 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.