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

Honest logo with Consumer Discretionary background

The Honest Company, Inc. (NASDAQ:HNST - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $5.93.

A number of equities research analysts recently issued reports on the company. Northland Securities increased their price objective on Honest from $6.50 to $7.50 and gave the stock an "outperform" rating in a research report on Wednesday. Telsey Advisory Group upped their target price on shares of Honest from $4.00 to $6.00 and gave the stock a "market perform" rating in a research report on Wednesday. Northland Capmk raised Honest to a "strong-buy" rating in a research note on Tuesday, August 6th. Alliance Global Partners increased their price objective on Honest from $5.75 to $8.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, B. Riley lifted 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.

Check Out Our Latest Stock Analysis on Honest

Insider Transactions at Honest

In other news, EVP Stephen Winchell sold 6,938 shares of the business's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $29,694.64. Following the sale, the executive vice president now directly owns 414,736 shares in the company, valued at $1,775,070.08. The trade was a 1.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total value of $8,050,000.00. Following the sale, the insider now owns 9,869,803 shares in the company, valued at $34,544,310.50. The trade was a 18.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,461,187 shares of company stock worth $8,739,880 in the last ninety days. Insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On Honest

Several large investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. increased its holdings 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 valued at $784,000 after acquiring an additional 120,937 shares in the last quarter. Mainstream Capital Management LLC purchased a new position in Honest in the third quarter valued at $843,000. Inspire Investing LLC acquired a new position in shares of Honest in the third quarter worth about $806,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Honest during the 1st quarter valued at about $3,777,000. Finally, Dimensional Fund Advisors LP raised its holdings 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 during the period. 45.54% of the stock is owned by hedge funds and other institutional investors.

Honest Stock Up 8.2 %

NASDAQ:HNST traded up $0.49 during mid-day trading on Thursday, hitting $6.50. 6,959,325 shares of the stock traded hands, compared to its average volume of 1,383,822. Honest has a 12-month low of $1.40 and a 12-month high of $6.77. The company has a market cap of $650.52 million, a PE ratio of -162.50 and a beta of 1.85. The business's 50-day moving average price is $3.91 and its 200 day moving average price is $3.49.

Honest Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Honest (NASDAQ:HNST)

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