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

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

Several brokerages have recently commented on DTC. B. Riley reissued a “neutral” rating and issued a $2.20 price objective (down from $4.00) on shares of Solo Brands in a research note on Friday, March 15th. Jefferies Financial Group lowered their price target 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. Craig Hallum downgraded shares of Solo Brands from a “buy” rating to a “hold” rating and set a $5.00 price objective on the stock. in a report on Monday, January 8th. Canaccord Genuity Group lowered their target price on shares of Solo Brands from $6.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Finally, Citigroup cut their price target on shares of Solo Brands from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th.

Insider Buying and Selling

In related news, CEO Christopher T. Metz acquired 100,000 shares of Solo Brands stock in a transaction on Friday, March 15th. The shares were acquired at an average cost of $2.27 per share, with a total value of $227,000.00. Following the transaction, the chief executive officer now owns 100,000 shares in the company, valued at $227,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Solo Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of DTC. Boston Partners purchased a new stake in shares of Solo Brands during the fourth quarter valued at approximately $13,159,000. Marshall Wace LLP increased its holdings in shares of Solo Brands by 216.9% in the 2nd quarter. Marshall Wace LLP now owns 1,306,598 shares of the company’s stock worth $7,395,000 after purchasing an additional 894,268 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new position in shares of Solo Brands in the second quarter worth $3,962,000. Bridgeway Capital Management LLC bought a new position in shares of Solo Brands during the fourth quarter valued at $3,938,000. Finally, First Dallas Securities Inc. bought a new position in shares of Solo Brands during the third quarter valued at $3,018,000. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Solo Brands Price Performance

Solo Brands stock opened at $1.90 on Monday. The stock has a market capitalization of $173.24 million, a price-to-earnings ratio of -0.98, a PEG ratio of 0.67 and a beta of 2.61. Solo Brands has a 52-week low of $1.88 and a 52-week high of $8.86. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.95 and a current ratio of 2.21. The stock’s 50 day moving average price is $2.39 and its two-hundred day moving average price is $3.78.

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