The Honest Company, Inc. (NASDAQ:HNST) Given Consensus Recommendation of “Moderate Buy” by Brokerages

The Honest Company, Inc. (NASDAQ:HNST) has received an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $6.21.

A number of analysts have recently commented on HNST shares. Telsey Advisory Group boosted their target price on shares of Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. Northland Securities boosted their price objective on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Alliance Global Partners raised 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. Finally, B. Riley lifted their price target on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

Insider Buying and Selling

In other news, CEO Carla Vernon sold 65,176 shares of Honest stock in a transaction 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 $19,618,315.30. The trade was a 2.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Brendan Sheehey sold 92,138 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $8.13, for a total transaction of $749,081.94. Following the completion of the sale, the general counsel now directly owns 516,816 shares of the company’s stock, valued at $4,201,714.08. This represents a 15.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,634,818 shares of company stock worth $10,514,671. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Honest

Several institutional investors have recently made changes to their positions in the company. Zacks Investment Management purchased a new position in Honest in the third quarter worth approximately $37,000. Creative Planning purchased a new position in shares of Honest during the 3rd quarter worth $39,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Honest during the 3rd quarter worth about $40,000. Panagora Asset Management Inc. acquired a new stake in shares of Honest during the 2nd quarter worth about $43,000. Finally, Castleview Partners LLC purchased a new stake in Honest in the 3rd quarter valued at about $71,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Honest Stock Performance

Honest stock opened at $8.22 on Monday. The stock has a market capitalization of $829.89 million, a P/E ratio of -205.50 and a beta of 2.42. The company’s fifty day moving average price is $5.23 and its 200 day moving average price is $4.06. Honest has a 1 year low of $2.23 and a 1 year high of $8.97.

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.