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

Shares of Solo Brands, Inc. (NYSE:DTCGet Free Report) have earned an average rating of “Hold” from the eight analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $3.54.

A number of research analysts have recently commented on DTC shares. Piper Sandler restated a “neutral” rating and issued a $3.00 target price (down previously from $4.00) on shares of Solo Brands in a research note on Friday, March 15th. B. Riley reissued a “neutral” rating and set a $2.20 price objective (down previously from $4.00) on shares of Solo Brands in a research note on Friday, March 15th. Jefferies Financial Group reduced their price objective on Solo Brands from $4.00 to $3.05 and set a “hold” rating for the company in a research report on Friday, March 15th. Canaccord Genuity Group reduced their price objective on shares of Solo Brands from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Finally, Citigroup dropped their target price on shares of Solo Brands from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th.

Get Our Latest Stock Analysis on DTC

Insider Buying and Selling

In related news, CEO Christopher T. Metz bought 100,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was acquired at an average cost of $2.27 per share, for a total transaction of $227,000.00. Following the purchase, 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 SEC, which is available through this link. 0.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust bought a new position in shares of Solo Brands in the fourth quarter worth about $25,000. Bank of New York Mellon Corp increased its stake in shares of Solo Brands by 3.9% in the third 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 in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Solo Brands by 10.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 115,837 shares of the company’s stock valued at $251,000 after purchasing an additional 10,722 shares during the period. Balboa Wealth Partners bought a new stake in Solo Brands during the fourth quarter valued at about $72,000. Finally, AXQ Capital LP bought a new stake in Solo Brands during the third quarter valued at about $67,000. 84.48% of the stock is currently owned by institutional investors.

Solo Brands Stock Down 3.1 %

Shares of Solo Brands stock opened at $1.89 on Tuesday. The company’s 50 day moving average price is $1.95 and its 200-day moving average price is $3.16. Solo Brands has a 52-week low of $1.74 and a 52-week high of $6.67. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.80. The stock has a market capitalization of $172.50 million, a price-to-earnings ratio of -0.94, a P/E/G ratio of 0.50 and a beta of 2.58.

Solo Brands (NYSE:DTCGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $85.32 million during the quarter, compared to the consensus estimate of $80.48 million. Solo Brands had a negative net margin of 23.52% and a positive return on equity of 6.99%. During the same period in the prior year, the firm posted $0.09 earnings per share. Equities research analysts forecast that Solo Brands will post 0.33 EPS for the current year.

Solo Brands Company Profile

(Get Free Report

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.

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Analyst Recommendations for Solo Brands (NYSE:DTC)

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