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

The Honest Company, Inc. (NASDAQ:HNST) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat 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 price target among brokers that have covered the stock in the last year is $6.93.

A number of analysts have recently weighed in on HNST shares. Telsey Advisory Group increased their price target on Honest from $6.00 to $7.00 and gave the stock a “market perform” rating in a research report on Friday, January 10th. B. Riley increased their target price on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Alliance Global Partners boosted their price target on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a 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 target for the company. in a research report on Tuesday, December 17th. Finally, Northland Securities lifted their price objective on shares of Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

Honest Stock Performance

NASDAQ HNST opened at $6.16 on Tuesday. The firm has a market capitalization of $621.91 million, a PE ratio of -154.00 and a beta of 2.43. Honest has a one year low of $2.40 and a one year high of $8.97. The company has a 50-day simple moving average of $6.91 and a 200-day simple moving average of $5.16.

Insider Activity

In other Honest news, General Counsel Brendan Sheehey sold 8,392 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total value of $59,583.20. Following the sale, the general counsel now directly owns 516,816 shares in the company, valued at approximately $3,669,393.60. The trade was a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Carla Vernon sold 65,176 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total transaction of $462,749.60. Following the completion of the sale, the chief executive officer now directly owns 2,763,143 shares of the company’s stock, valued at $19,618,315.30. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 799,818 shares of company stock worth $5,975,421 over the last three months. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. grew its holdings in shares of Honest by 41.5% in the 2nd quarter. American Century Companies Inc. now owns 111,141 shares of the company’s stock worth $325,000 after acquiring an additional 32,586 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Honest by 68.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock worth $2,755,000 after purchasing an additional 382,418 shares in the last quarter. Sei Investments Co. acquired a new stake in Honest during the 2nd quarter worth about $218,000. The Manufacturers Life Insurance Company purchased a new stake in Honest during the second quarter valued at about $94,000. Finally, Algert Global LLC boosted its holdings in shares of Honest by 24.4% in the second quarter. Algert Global LLC now owns 63,472 shares of the company’s stock worth $185,000 after buying an additional 12,437 shares during the period. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.