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

The Honest Company, Inc. (NASDAQ:HNST) has received a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $5.93.

HNST has been the subject of several research analyst reports. Northland Securities raised 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. Telsey Advisory Group raised their price target on shares of Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 13th. Alliance Global Partners lifted their price objective on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Northland Capmk upgraded shares of Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, B. Riley boosted their target price on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th.

Honest Price Performance

Shares of HNST stock opened at $7.20 on Thursday. The business has a fifty day moving average of $4.03 and a 200 day moving average of $3.56. The firm has a market capitalization of $726.91 million, a price-to-earnings ratio of -180.00 and a beta of 1.85. Honest has a 1 year low of $1.47 and a 1 year high of $7.38.

Insider Activity

In other news, EVP Stephen Winchell sold 6,938 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $29,694.64. Following the completion of the transaction, the executive vice president now directly owns 414,736 shares of the company’s stock, valued at $1,775,070.08. This represents a 1.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO David Loretta sold 75,656 shares of Honest stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $323,807.68. Following the completion of the sale, the chief financial officer now directly owns 987,757 shares in the company, valued at $4,227,599.96. This represents a 7.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,461,187 shares of company stock valued at $8,739,880 in the last three months. 8.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Honest

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ArrowMark Colorado Holdings LLC lifted its position in shares of Honest by 6.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company’s stock valued at $11,295,000 after acquiring an additional 191,547 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Honest by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock valued at $11,549,000 after purchasing an additional 268,600 shares in the last quarter. Geode Capital Management LLC boosted its stake in Honest by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,811,621 shares of the company’s stock worth $6,468,000 after purchasing an additional 65,995 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Honest by 117.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock worth $4,579,000 after purchasing an additional 846,300 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Honest by 23.0% during the third quarter. State Street Corp now owns 1,181,469 shares of the company’s stock worth $4,218,000 after buying an additional 220,699 shares in the last quarter. 45.54% of the stock is owned by hedge funds and other institutional investors.

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.