The Honest Company, Inc. (NASDAQ:HNST) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of The Honest Company, Inc. (NASDAQ:HNST) have been given a consensus rating of “Moderate Buy” by the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $6.93.

A number of research firms recently commented on HNST. Northland Securities lifted their price target on shares of Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Loop Capital lowered Honest from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a research note on Tuesday, December 17th. B. Riley upped their price target on Honest from $6.50 to $7.00 and gave the company a “buy” 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 stock a “buy” rating in a report on Wednesday, November 13th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 price objective on shares of Honest in a report on Wednesday.

Insider Buying and Selling

In other news, Director Jessica Warren sold 465,000 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 1,170,058 shares in the company, valued at $8,833,937.90. The trade was a 28.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Brendan Sheehey sold 92,138 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $8.13, for a total value of $749,081.94. Following the completion of the sale, the general counsel now owns 516,816 shares in the company, valued at $4,201,714.08. This trade represents a 15.13 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Honest

Institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new stake in shares of Honest during the 4th quarter valued at about $26,000. Zacks Investment Management bought a new stake in Honest during the third quarter valued at approximately $37,000. Creative Planning purchased a new position in Honest in the 3rd quarter worth approximately $39,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Honest in the 3rd quarter worth $40,000. Finally, New York State Teachers Retirement System purchased a new stake in shares of Honest during the 4th quarter valued at $52,000. 45.54% of the stock is currently owned by institutional investors.

Honest Stock Performance

Shares of HNST stock opened at $5.73 on Friday. Honest has a 52 week low of $2.40 and a 52 week high of $8.97. The firm’s 50-day simple moving average is $6.41 and its two-hundred day simple moving average is $5.38. The firm has a market cap of $578.00 million, a price-to-earnings ratio of -143.13 and a beta of 2.43.

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.