Solo Brands, Inc. (NYSE:DTC) Given Consensus Rating of “Hold” by Analysts

Shares of Solo Brands, Inc. (NYSE:DTC) have been assigned an average recommendation of “Hold” from the eight research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $3.54.

DTC has been the topic of several research analyst reports. Jefferies Financial Group dropped their target price on shares of Solo Brands from $4.00 to $3.05 and set a “hold” rating on the stock in a report on Friday, March 15th. Citigroup dropped their target price on Solo Brands from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. JPMorgan Chase & Co. cut Solo Brands from an “overweight” rating to an “underweight” rating in a report on Friday, February 2nd. Piper Sandler reiterated a “neutral” rating and set a $3.00 price objective (down previously from $4.00) on shares of Solo Brands in a research note on Friday, March 15th. Finally, B. Riley reissued a “neutral” rating and issued a $2.20 price objective (down previously from $4.00) on shares of Solo Brands in a research report on Friday, March 15th.

Insider Activity

In other Solo Brands news, CEO Christopher T. Metz purchased 100,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was bought at an average cost of $2.27 per share, for a total transaction of $227,000.00. Following the completion of the transaction, the chief executive officer now owns 100,000 shares in the company, valued at $227,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.34% of the stock is owned by company insiders.

Institutional Trading of Solo Brands

Several institutional investors and hedge funds have recently modified their holdings of the business. Parkside Financial Bank & Trust bought a new stake in shares of Solo Brands during the fourth quarter worth $25,000. Bank of New York Mellon Corp raised its position in Solo Brands by 3.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 187,710 shares of the company’s stock worth $957,000 after purchasing an additional 7,048 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Solo Brands by 10.2% in the first quarter. Janney Montgomery Scott LLC now owns 115,837 shares of the company’s stock worth $251,000 after acquiring an additional 10,722 shares during the period. Balboa Wealth Partners acquired a new stake in Solo Brands during the 4th quarter valued at approximately $72,000. Finally, AXQ Capital LP bought a new position in Solo Brands during the 3rd quarter worth approximately $67,000. 84.48% of the stock is currently owned by institutional investors.

Solo Brands Stock Up 5.1 %

Shares of Solo Brands stock opened at $2.07 on Friday. Solo Brands has a 12 month low of $1.74 and a 12 month high of $7.13. The business has a fifty day simple moving average of $2.08 and a 200 day simple moving average of $3.43. The company has a quick ratio of 0.95, a current ratio of 2.21 and a debt-to-equity ratio of 0.38. The stock has a market cap of $188.74 million, a PE ratio of -1.07, a price-to-earnings-growth ratio of 0.69 and a beta of 2.59.

Solo Brands (NYSE:DTC) last announced its quarterly earnings results on Thursday, March 14th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. Solo Brands had a negative net margin of 22.50% and a positive return on equity of 7.33%. The business had revenue of $165.32 million for the quarter, compared to the consensus estimate of $166.15 million. Research analysts predict that Solo Brands will post 0.25 EPS for the current year.

Solo Brands Company Profile

Solo Brands, Inc operates a direct-to-consumer platform that offers outdoor and lifestyle branded products in the United States. The company provides camp stoves under the Solo Stove Lite brand name; fire pits under the Solo Stove brand name; kayaks under the Oru brand name; paddle boards under the ISLE brand name; and storage solutions for fire pits, firewood, and other accessories.