The Honest Company, Inc. (NASDAQ:HNST) Receives $6.93 Consensus PT from Analysts

The Honest Company, Inc. (NASDAQ:HNST) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $6.93.

A number of analysts have recently weighed in on the stock. B. Riley boosted their price objective on shares of Honest from $6.50 to $7.00 and gave the stock a “buy” 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 for the company. in a report on Tuesday, December 17th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $7.00 price target on shares of Honest in a research report on Wednesday, February 19th. Alliance Global Partners boosted their price objective on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Northland Securities raised their target price on Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

Honest Stock Performance

Shares of HNST stock opened at $5.67 on Friday. The company has a market capitalization of $572.44 million, a price-to-earnings ratio of -141.75 and a beta of 2.43. The stock’s 50 day simple moving average is $6.38 and its 200 day simple moving average is $5.42. Honest has a twelve month low of $2.40 and a twelve month high of $8.97.

Insider Activity at Honest

In other Honest news, General Counsel Brendan Sheehey sold 92,138 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $8.13, for a total value of $749,081.94. Following the sale, the general counsel now owns 516,816 shares of the company’s stock, valued at $4,201,714.08. The trade was a 15.13 % decrease in their position. 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 firm’s stock in a transaction dated 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 directly owns 1,170,058 shares of the company’s stock, valued at $8,833,937.90. The trade was a 28.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Honest

A number of hedge funds have recently modified their holdings of HNST. D. E. Shaw & Co. Inc. grew its position in Honest by 589.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,397,636 shares of the company’s stock valued at $16,616,000 after acquiring an additional 2,049,981 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Honest by 869.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,546,391 shares of the company’s stock valued at $10,716,000 after purchasing an additional 1,386,961 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Honest by 25.7% in the 4th quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company’s stock worth $35,671,000 after purchasing an additional 1,052,305 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Honest by 103.5% during the 4th quarter. Nuveen Asset Management LLC now owns 2,046,868 shares of the company’s stock worth $14,185,000 after purchasing an additional 1,041,040 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Honest by 1,504.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 851,436 shares of the company’s stock valued at $3,040,000 after purchasing an additional 798,384 shares during the last quarter. 45.54% of the stock is owned by institutional investors and hedge funds.

About Honest

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.