Brokerages Set The Honest Company, Inc. (NASDAQ:HNST) Target Price at $6.79

The Honest Company, Inc. (NASDAQ:HNST) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $6.79.

Several brokerages recently commented on HNST. Telsey Advisory Group increased their target price on shares of Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a report on Wednesday, November 13th. Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a research report on Tuesday, December 17th. Alliance Global Partners upped their price target on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Northland Securities upped their price target on shares of Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, B. Riley upped their price target on shares of Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

Honest Trading Down 2.8 %

Shares of HNST opened at $6.33 on Friday. Honest has a 12 month low of $2.40 and a 12 month high of $8.97. The firm 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 capitalization of $639.08 million, a price-to-earnings ratio of -158.25 and a beta of 2.45.

Insider Activity

In related news, EVP Stephen Winchell sold 7,123 shares of the company’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 $50,573.30. Following the transaction, the executive vice president now directly owns 382,613 shares in the company, valued at approximately $2,716,552.30. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Carla Vernon sold 65,176 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 799,818 shares of company stock valued at $5,975,421 over the last ninety days. 8.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Honest

Institutional investors and hedge funds have recently modified their holdings of the business. Zacks Investment Management acquired a new position in shares of Honest in the third quarter valued at about $37,000. Creative Planning acquired a new position in shares of Honest in the third quarter valued at about $39,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Honest in the third quarter valued at about $40,000. Panagora Asset Management Inc. acquired a new stake in Honest during the second quarter worth about $43,000. Finally, Castleview Partners LLC acquired a new stake in Honest during the third quarter worth about $71,000. 45.54% of the stock is currently 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.