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

Shares of Solo Brands, Inc. (NYSE:DTC) have received an average rating of “Hold” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $3.54.

DTC has been the topic of a number of analyst reports. Craig Hallum cut Solo Brands from a “buy” rating to a “hold” rating and set a $5.00 target price on the stock. in a report on Monday, January 8th. William Blair cut Solo Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. Piper Sandler restated a “neutral” rating and issued a $3.00 target price (down from $4.00) on shares of Solo Brands in a report on Friday, March 15th. Citigroup lowered their price target on shares of Solo Brands from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, March 6th. Finally, 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.

Solo Brands Stock Performance

NYSE DTC 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. The business’s 50 day moving average is $2.39 and its two-hundred day moving average is $3.78. Solo Brands has a 12-month low of $1.88 and a 12-month high of $8.86. The company has a current ratio of 2.21, a quick ratio of 0.95 and a debt-to-equity ratio of 0.38.

Solo Brands (NYSE:DTC) last issued its earnings results on Thursday, March 14th. The company reported $0.13 earnings per share (EPS) 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 company had revenue of $165.32 million during the quarter, compared to analysts’ expectations of $166.15 million. Research analysts expect that Solo Brands will post 0.25 EPS for the current year.

Insider Activity at Solo Brands

In other news, CEO Christopher T. Metz purchased 100,000 shares of the stock in a transaction dated Friday, March 15th. The shares were bought at an average cost of $2.27 per share, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.93% of the stock is currently owned by insiders.

Institutional Trading of Solo Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust bought a new position in Solo Brands in the fourth quarter worth $25,000. UBS Group AG lifted its holdings in shares of Solo Brands by 9,253.0% during the 4th quarter. UBS Group AG now owns 9,353 shares of the company’s stock worth $35,000 after acquiring an additional 9,253 shares during the period. Citigroup Inc. acquired a new stake in shares of Solo Brands during the 2nd quarter valued at about $37,000. Public Employees Retirement System of Ohio acquired a new position in Solo Brands in the fourth quarter worth about $41,000. Finally, American International Group Inc. lifted its stake in Solo Brands by 38.4% during the second quarter. American International Group Inc. now owns 10,287 shares of the company’s stock worth $42,000 after purchasing an additional 2,852 shares during the period. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

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.