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

The Honest Company, Inc. (NASDAQ:HNST) has been assigned an average rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $6.79.

HNST has been the topic of a number of analyst reports. Northland Securities lifted their target price on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Loop Capital downgraded shares of 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. Telsey Advisory Group upped their price target on shares of Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. B. Riley raised their price objective on shares of Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Alliance Global Partners upped their target price 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.

Honest Trading Down 1.5 %

HNST opened at $6.51 on Friday. Honest has a twelve month low of $2.40 and a twelve month high of $8.97. The firm has a market cap of $657.26 million, a price-to-earnings ratio of -162.75 and a beta of 2.45. The company has a fifty day simple moving average of $6.68 and a 200 day simple moving average of $4.73.

Insider Transactions at Honest

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 sale, the director now owns 1,170,058 shares in the company, valued at $8,833,937.90. This represents a 28.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen Winchell sold 7,123 shares of Honest 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 $50,573.30. Following the completion of the transaction, the executive vice president now owns 382,613 shares of the company’s stock, valued at approximately $2,716,552.30. The trade was a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 799,818 shares of company stock worth $5,975,421. 8.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Honest

Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new position in shares of Honest during the second quarter worth about $695,000. Panagora Asset Management Inc. acquired a new position in Honest during the 2nd quarter valued at about $43,000. Rhumbline Advisers grew its position in 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 during the last quarter. Acadian Asset Management LLC increased its stake in shares of Honest by 706.1% in the second 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 period. Finally, American Century Companies Inc. boosted its position in shares of Honest by 41.5% during 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 during the period. 45.54% of the stock is owned by institutional investors and hedge funds.

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.