The Honest Company, Inc. (NASDAQ:HNST) Receives Average Recommendation of “Moderate Buy” from Brokerages

The Honest Company, Inc. (NASDAQ:HNST) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $5.93.

HNST has been the topic of a number of research analyst reports. Telsey Advisory Group upped their price target 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. Alliance Global Partners upped their target price on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. B. Riley lifted 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. Northland Securities increased their price objective on Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Northland Capmk upgraded Honest to a “strong-buy” rating in a report on Tuesday, August 6th.

Insider Buying and Selling

In other Honest news, CEO Carla Vernon sold 52,751 shares of Honest stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $225,774.28. Following the transaction, the chief executive officer now owns 2,828,319 shares in the company, valued at $12,105,205.32. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Loretta sold 75,656 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $323,807.68. Following the completion of the transaction, the chief financial officer now owns 987,757 shares of the company’s stock, valued at $4,227,599.96. This represents a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,461,187 shares of company stock valued at $8,739,880 over the last 90 days. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Honest

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. increased its position in shares of Honest by 122.5% during the third quarter. Harbor Capital Advisors Inc. now owns 219,697 shares of the company’s stock worth $784,000 after purchasing an additional 120,937 shares in the last quarter. Mainstream Capital Management LLC purchased a new stake in Honest in the third quarter valued at about $843,000. Inspire Investing LLC purchased a new stake in Honest in the third quarter valued at about $806,000. Hillsdale Investment Management Inc. acquired a new stake in Honest in the first quarter worth about $3,777,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Honest by 68.1% during the second quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock valued at $2,755,000 after acquiring an additional 382,418 shares in the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Honest Stock Up 4.2 %

Shares of Honest stock opened at $7.20 on Thursday. The stock’s fifty day moving average is $4.03 and its two-hundred day moving average is $3.56. Honest has a 52 week low of $1.47 and a 52 week high of $7.38. The company has a market capitalization of $726.91 million, a PE ratio of -180.00 and a beta of 1.85.

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.