Telsey Advisory Group Reiterates “Market Perform” Rating for Honest (NASDAQ:HNST)

Honest (NASDAQ:HNST)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Telsey Advisory Group in a research note issued on Wednesday,Benzinga reports. They currently have a $7.00 price target on the stock. Telsey Advisory Group’s target price suggests a potential upside of 16.09% from the stock’s current price.

HNST has been the subject of a number of other reports. Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research report on Tuesday, December 17th. Alliance Global Partners increased their target price on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. B. Riley boosted their price target 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. Finally, Northland Securities increased their price objective on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Honest currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.93.

Honest Price Performance

Honest stock opened at $6.03 on Wednesday. Honest has a one year low of $2.40 and a one year high of $8.97. The firm has a market capitalization of $608.79 million, a P/E ratio of -150.75 and a beta of 2.43. The business has a fifty day moving average price of $6.44 and a 200-day moving average price of $5.36.

Insider Activity

In other Honest news, Director Jessica Warren sold 465,000 shares of the firm’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 sale, the director now owns 1,170,058 shares in the company, valued at $8,833,937.90. This trade represents a 28.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Brendan Sheehey sold 92,138 shares of Honest stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $8.13, for a total value of $749,081.94. Following the sale, the general counsel now directly owns 516,816 shares of the company’s stock, valued at approximately $4,201,714.08. This trade represents a 15.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HNST. SBI Securities Co. Ltd. bought a new position in Honest during the 4th quarter valued at approximately $26,000. New York State Teachers Retirement System purchased a new position in shares of Honest during the fourth quarter valued at approximately $52,000. Zacks Investment Management bought a new position in shares of Honest during the third quarter valued at approximately $37,000. Creative Planning purchased a new stake in Honest in the third quarter worth $39,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Honest in the third quarter valued at $40,000. 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.