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

Shares of The Honest Company, Inc. (NASDAQ:HNST) have received an average rating of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $5.93.

A number of brokerages recently commented on HNST. B. Riley upped their target price on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Northland Capmk raised shares of Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Northland Securities boosted their price target on shares of Honest from $6.50 to $7.50 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Alliance Global Partners lifted their price objective on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Telsey Advisory Group raised their target price on Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th.

Honest Stock Down 1.0 %

NASDAQ:HNST opened at $7.25 on Thursday. The company has a fifty day moving average of $4.16 and a 200 day moving average of $3.61. The firm has a market capitalization of $731.97 million, a P/E ratio of -181.25 and a beta of 1.85. Honest has a 52 week low of $1.57 and a 52 week high of $7.57.

Insider Buying and Selling

In related news, EVP Stephen Winchell sold 7,123 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total transaction of $50,573.30. Following the completion of the sale, the executive vice president now directly owns 382,613 shares in the company, valued at approximately $2,716,552.30. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the sale, the insider now directly owns 9,869,803 shares of the company’s stock, valued at approximately $34,544,310.50. The trade was a 18.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,517,680 shares of company stock valued at $9,585,839 over the last 90 days. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HNST. EntryPoint Capital LLC purchased a new stake in shares of Honest during the 1st quarter valued at about $27,000. Zacks Investment Management bought a new position in shares of Honest during the 3rd quarter valued at approximately $37,000. Creative Planning bought a new position in shares of Honest during the 3rd quarter valued at approximately $39,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Honest in the third quarter valued at $40,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Honest during the 1st quarter worth about $52,000. 45.54% of the stock is currently 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.