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

The Honest Company, Inc. (NASDAQ:HNST) has received an average rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $6.79.

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

Honest Stock Down 2.8 %

Shares of Honest stock opened at $6.33 on Friday. The company has a market capitalization of $639.08 million, a price-to-earnings ratio of -158.25 and a beta of 2.45. Honest has a 12-month low of $2.40 and a 12-month high of $8.97. The firm’s 50-day moving average price is $6.79 and its two-hundred day moving average price is $4.75.

Insider Activity at Honest

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Zacks Investment Management bought a new position in Honest during the 3rd quarter worth approximately $37,000. Creative Planning bought a new position in Honest during the 3rd quarter worth approximately $39,000. Wealth Enhancement Advisory Services LLC bought a new position in Honest during the 3rd quarter worth approximately $40,000. Panagora Asset Management Inc. bought a new position in Honest during the 2nd quarter worth approximately $43,000. Finally, Castleview Partners LLC bought a new position in Honest during the 3rd quarter worth approximately $71,000. Institutional investors own 45.54% of the company’s stock.

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.