The Honest Company, Inc. (NASDAQ:HNST) Receives Consensus Recommendation of "Moderate Buy" from Analysts

The Honest Company, Inc. (NASDAQ:HNST - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $6.79.

A number of equities analysts have issued reports on HNST shares. Telsey Advisory Group increased their price target on Honest from $4.00 to $6.00 and gave the stock a "market perform" rating in a report on Wednesday, November 13th. B. Riley increased their target price on shares of Honest from $6.50 to $7.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Loop Capital cut shares of Honest from a "buy" rating to a "hold" rating and set a $7.00 price target for the company. in a report on Tuesday, December 17th. Alliance Global Partners upped their price objective on shares of Honest from $5.75 to $8.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Finally, Northland Securities raised their target price on Honest from $7.50 to $9.50 and gave the company an "outperform" rating in a research note on Wednesday, December 4th.

Honest Price Performance

Shares of Honest stock traded down $0.12 on Friday, hitting $6.67. 1,854,925 shares of the company's stock traded hands, compared to its average volume of 2,026,012. The company has a fifty day moving average of $6.52 and a two-hundred day moving average of $4.62. Honest has a one year low of $2.40 and a one year high of $8.97. The company has a market capitalization of $673.41 million, a price-to-earnings ratio of -166.75 and a beta of 2.42.

Insider Buying and Selling at Honest

In related news, General Counsel Brendan Sheehey sold 92,138 shares of the firm'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 transaction, the general counsel now directly owns 516,816 shares of the company's stock, valued at $4,201,714.08. This trade represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jessica Warren sold 465,000 shares of the company's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the completion of the sale, the director now directly owns 1,170,058 shares of the company's stock, valued at $8,833,937.90. The trade was a 28.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 799,818 shares of company stock worth $5,975,421. Insiders own 8.60% of the company's stock.

Hedge Funds Weigh In On Honest

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new stake in Honest during the second quarter worth $695,000. Panagora Asset Management Inc. bought a new stake in shares of Honest during the 2nd quarter worth $43,000. Rhumbline Advisers boosted its holdings in shares of Honest by 2,486.2% in the 2nd quarter. Rhumbline Advisers now owns 104,481 shares of the company's stock worth $305,000 after buying an additional 100,441 shares during the last quarter. Acadian Asset Management LLC grew its position in Honest by 706.1% during the second quarter. Acadian Asset Management LLC now owns 716,332 shares of the company's stock valued at $2,088,000 after buying an additional 627,464 shares during the period. Finally, American Century Companies Inc. increased its holdings in Honest by 41.5% during the second quarter. American Century Companies Inc. now owns 111,141 shares of the company's stock worth $325,000 after buying an additional 32,586 shares during the last quarter. Hedge funds and other institutional investors 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.