Honest (NASDAQ:HNST) Price Target Raised to $7.00 at Telsey Advisory Group

Honest (NASDAQ:HNST) had its price target boosted by equities research analysts at Telsey Advisory Group from $6.00 to $7.00 in a research report issued on Friday, MarketBeat reports. The brokerage presently has a “market perform” rating on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 10.58% from the stock’s current price.

Several other research firms have also recently commented on HNST. Alliance Global Partners boosted their price objective on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. B. Riley upped their price objective on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Northland Securities lifted their target price on Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Loop Capital downgraded Honest from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a research report on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.93.

Honest Stock Down 2.8 %

HNST opened at $6.33 on Friday. The company has a fifty day simple moving average of $6.79 and a 200 day simple moving average of $4.75. The stock has a market cap of $639.08 million, a P/E 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.

Insider Buying and Selling at Honest

In related news, CFO David Loretta sold 27,004 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total value of $191,728.40. Following the transaction, the chief financial officer now owns 960,753 shares of the company’s stock, valued at approximately $6,821,346.30. This trade represents a 2.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Brendan Sheehey sold 107,653 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $7.01, for a total transaction of $754,647.53. Following the transaction, the general counsel now owns 517,861 shares in the company, valued at approximately $3,630,205.61. This trade represents a 17.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 799,818 shares of company stock worth $5,975,421. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Honest

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new position in Honest in the second quarter worth $695,000. Rhumbline Advisers boosted its holdings in shares of Honest by 2,486.2% in the 2nd quarter. Rhumbline Advisers now owns 104,481 shares of the company’s stock worth $305,000 after purchasing an additional 100,441 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Honest by 706.1% during the 2nd quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock valued at $2,088,000 after purchasing an additional 627,464 shares during the last quarter. American Century Companies Inc. boosted its stake in Honest by 41.5% in the second quarter. American Century Companies Inc. now owns 111,141 shares of the company’s stock worth $325,000 after buying an additional 32,586 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Honest by 68.1% during the second quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock valued at $2,755,000 after acquiring an additional 382,418 shares during the last quarter. 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.