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

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

Several equities analysts have weighed in on DTC shares. Piper Sandler restated a “neutral” rating and set a $3.00 target price (down from $4.00) on shares of Solo Brands in a report on Friday, March 15th. Citigroup dropped their price target on Solo Brands from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. B. Riley reaffirmed 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. JPMorgan Chase & Co. cut Solo Brands from an “overweight” rating to an “underweight” rating in a research report on Friday, February 2nd. Finally, Jefferies Financial Group reduced 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.

Insider Transactions at Solo Brands

In other news, CEO Christopher T. Metz bought 100,000 shares of the firm’s stock in a transaction dated 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 completion of the purchase, the chief executive officer now owns 100,000 shares of the company’s stock, valued at $227,000. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On Solo Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust purchased a new stake in shares of Solo Brands during the fourth quarter worth $25,000. Bank of New York Mellon Corp boosted its holdings in shares of 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 buying an additional 7,048 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Solo Brands by 10.2% during the first quarter. Janney Montgomery Scott LLC now owns 115,837 shares of the company’s stock worth $251,000 after buying an additional 10,722 shares during the last quarter. Balboa Wealth Partners bought a new stake in shares of Solo Brands in the fourth quarter valued at about $72,000. Finally, AXQ Capital LP bought a new position in Solo Brands in the third quarter worth $67,000. 84.48% of the stock is owned by institutional investors.

Solo Brands Price Performance

Shares of NYSE DTC opened at $2.07 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.95 and a current ratio of 2.21. Solo Brands has a one year low of $1.74 and a one year high of $7.13. The firm has a market capitalization of $188.74 million, a P/E ratio of -1.07, a PEG ratio of 0.69 and a beta of 2.59. The company’s fifty day moving average is $2.08 and its two-hundred day moving average is $3.43.

Solo Brands (NYSE:DTC) last posted its quarterly 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 the consensus estimate of $166.15 million. Analysts forecast that Solo Brands will post 0.25 EPS for the current fiscal 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.