Honest (NASDAQ:HNST) Price Target Raised to $7.00

Honest (NASDAQ:HNST) had its price target hoisted by Telsey Advisory Group from $6.00 to $7.00 in a research report released on Friday morning, Marketbeat.com reports. They currently have a market perform rating on the stock.

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

Honest Trading Down 6.8 %

NASDAQ HNST opened at $5.90 on Friday. The company has a 50 day moving average of $6.83 and a 200-day moving average of $4.81. Honest has a 1-year low of $2.40 and a 1-year high of $8.97. The firm has a market cap of $595.67 million, a price-to-earnings ratio of -147.50 and a beta of 2.45.

Insider Buying and Selling

In other news, General Counsel Brendan Sheehey sold 8,392 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total transaction of $59,583.20. Following the completion of the transaction, the general counsel now directly owns 516,816 shares in the company, valued at $3,669,393.60. This trade represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen Winchell sold 7,123 shares of the firm’s 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 $50,573.30. Following 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 position. The disclosure for this sale can be found here. Insiders sold a total of 799,818 shares of company stock worth $5,975,421 in the last ninety days. 8.60% of the stock is owned by 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 stake in shares of Honest in the 3rd quarter worth about $37,000. Creative Planning bought a new stake in Honest during the 3rd quarter worth approximately $39,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Honest in the third quarter worth approximately $40,000. Castleview Partners LLC bought a new position in shares of Honest in the third quarter valued at approximately $71,000. Finally, US Bancorp DE purchased a new position in shares of Honest during the third quarter valued at approximately $78,000. 45.54% of the stock is currently owned by institutional investors.

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.