Honest (NASDAQ:HNST) Earns “Market Perform” Rating from Telsey Advisory Group

Honest (NASDAQ:HNST)‘s stock had its “market perform” rating reissued by research analysts at Telsey Advisory Group in a report issued on Wednesday,Benzinga reports. They currently have a $7.00 price target on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 11.82% from the company’s current price.

Other research analysts have also issued reports about the company. B. Riley increased their price objective on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Alliance Global Partners raised their price target on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. 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 note on Wednesday, December 4th. Finally, Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective on the stock. in a research note on Tuesday, December 17th. Three investment 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 presently has an average rating of “Moderate Buy” and an average target price of $6.93.

Honest Price Performance

Shares of HNST opened at $6.26 on Wednesday. The company’s fifty day moving average price is $6.48 and its 200-day moving average price is $5.35. Honest has a 1-year low of $2.40 and a 1-year high of $8.97. The firm has a market capitalization of $632.01 million, a PE ratio of -156.50 and a beta of 2.43.

Insider Transactions at Honest

In related news, General Counsel Brendan Sheehey sold 92,138 shares of the company’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 completion of the sale, the general counsel now owns 516,816 shares of the company’s stock, valued at approximately $4,201,714.08. This represents a 15.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jessica Warren sold 465,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total value of $3,510,750.00. Following the completion of the sale, the director now owns 1,170,058 shares of the company’s stock, valued at $8,833,937.90. This trade represents a 28.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of Honest

A number of hedge funds and other institutional investors have recently modified their holdings of HNST. CWM LLC grew its holdings in shares of Honest by 279,400.0% in the third quarter. CWM LLC now owns 22,360 shares of the company’s stock valued at $80,000 after purchasing an additional 22,352 shares during the period. Creative Planning acquired a new stake in shares of Honest during the 3rd quarter worth approximately $39,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Honest during the 3rd quarter valued at approximately $40,000. US Bancorp DE acquired a new position in Honest in the third quarter valued at approximately $78,000. Finally, Harbor Capital Advisors Inc. grew its position in Honest by 122.5% in the third quarter. Harbor Capital Advisors Inc. now owns 219,697 shares of the company’s stock worth $784,000 after acquiring an additional 120,937 shares during the period. 45.54% of the stock is owned by institutional investors and hedge funds.

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.