Brokerages Set The Honest Company, Inc. (NASDAQ:HNST) PT at $6.93

Shares of The Honest Company, Inc. (NASDAQ:HNST) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $6.93.

A number of research analysts have issued reports on HNST shares. B. Riley upped their price target on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Alliance Global Partners upped their target price on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Loop Capital cut 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. Northland Securities boosted their price target on Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Telsey Advisory Group raised their price objective on Honest from $6.00 to $7.00 and gave the stock a “market perform” rating in a research note on Friday, January 10th.

Honest Stock Up 6.7 %

HNST opened at $6.70 on Tuesday. The company has a market cap of $676.43 million, a P/E ratio of -167.50 and a beta of 2.45. The firm’s 50-day moving average price is $7.00 and its 200-day moving average price is $5.10. Honest has a 52-week low of $2.40 and a 52-week high of $8.97.

Insider Transactions at Honest

In related news, EVP Stephen Winchell sold 7,123 shares of the business’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 completion of the sale, the executive vice president now directly owns 382,613 shares in the company, valued at approximately $2,716,552.30. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Brendan Sheehey sold 107,653 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $7.01, for a total value of $754,647.53. Following the completion of the transaction, the general counsel now owns 517,861 shares in the company, valued at $3,630,205.61. The trade was a 17.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 799,818 shares of company stock valued at $5,975,421 in the last three months. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Honest

A number of hedge funds have recently modified their holdings of HNST. New York State Teachers Retirement System purchased a new stake in Honest during the 4th quarter valued at about $52,000. Zacks Investment Management purchased a new stake in shares of Honest in the third quarter valued at approximately $37,000. Creative Planning purchased a new stake in shares of Honest in the third quarter valued at approximately $39,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Honest in the third quarter valued at approximately $40,000. Finally, Entropy Technologies LP purchased a new position in Honest during the fourth quarter worth approximately $115,000. 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.