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

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

A number of equities analysts recently weighed in on the company. B. Riley upped their price target on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group upped their target price on Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. Loop Capital cut 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. Northland Securities upped their price objective 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, Alliance Global Partners lifted their target price 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.

Honest Stock Performance

Shares of Honest stock opened at $6.67 on Friday. The firm has a 50-day simple moving average of $6.58 and a two-hundred day simple moving average of $4.67. Honest has a fifty-two week low of $2.40 and a fifty-two week high of $8.97. The company has a market cap of $673.41 million, a P/E ratio of -166.75 and a beta of 2.42.

Insider Activity

In related news, CEO Carla Vernon sold 65,176 shares of Honest stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total transaction of $462,749.60. Following the transaction, the chief executive officer now owns 2,763,143 shares in the company, valued at approximately $19,618,315.30. This trade represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jessica Warren sold 465,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $7.55, for a total value of $3,510,750.00. Following the transaction, the director now directly owns 1,170,058 shares in the company, valued at $8,833,937.90. This trade represents a 28.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 799,818 shares of company stock worth $5,975,421 over the last three months. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Honest

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in shares of Honest in the 2nd quarter valued at approximately $695,000. Panagora Asset Management Inc. purchased a new position in Honest in the second quarter worth approximately $43,000. Rhumbline Advisers increased its stake in Honest by 2,486.2% during the second quarter. Rhumbline Advisers now owns 104,481 shares of the company’s stock worth $305,000 after acquiring an additional 100,441 shares during the last quarter. Acadian Asset Management LLC raised its position in 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. lifted its stake in shares of Honest by 41.5% in the 2nd quarter. American Century Companies Inc. now owns 111,141 shares of the company’s stock valued at $325,000 after purchasing an additional 32,586 shares during the last quarter. 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.