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

Shares of Solo Brands, Inc. (NYSE:DTC) have received an average recommendation of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $3.54.

DTC has been the subject of several recent research reports. Jefferies Financial Group lowered their target price on shares of Solo Brands from $4.00 to $3.05 and set a “hold” rating for the company in a research note on Friday, March 15th. B. Riley restated a “neutral” rating and set a $2.20 price target (down previously from $4.00) on shares of Solo Brands in a research report on Friday, March 15th. Craig Hallum lowered shares of Solo Brands from a “buy” rating to a “hold” rating and set a $5.00 price target for the company. in a research report on Monday, January 8th. 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 research report on Wednesday, March 6th. Finally, Piper Sandler restated a “neutral” rating and set a $3.00 price target (down previously from $4.00) on shares of Solo Brands in a research report on Friday, March 15th.

Insider Buying and Selling at Solo Brands

In other news, CEO Christopher T. Metz acquired 100,000 shares of Solo Brands stock in a transaction on Friday, March 15th. The stock was bought at an average cost of $2.27 per share, with a total value 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 purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.93% of the company’s stock.

Hedge Funds Weigh In On Solo Brands

A number of large investors have recently made changes to their positions in DTC. Boston Partners acquired a new position in shares of Solo Brands in the 4th quarter valued at about $13,159,000. Marshall Wace LLP increased its holdings in Solo Brands by 216.9% in the second quarter. Marshall Wace LLP now owns 1,306,598 shares of the company’s stock worth $7,395,000 after buying an additional 894,268 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in Solo Brands in the second quarter worth approximately $3,962,000. Bridgeway Capital Management LLC acquired a new position in Solo Brands in the fourth quarter worth approximately $3,938,000. Finally, First Dallas Securities Inc. acquired a new position in Solo Brands in the third quarter worth approximately $3,018,000. Institutional investors and hedge funds own 84.48% of the company’s stock.

Solo Brands Stock Up 2.0 %

Shares of NYSE:DTC opened at $1.82 on Monday. The company has a current ratio of 2.21, a quick ratio of 0.95 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $2.32 and a 200 day simple moving average of $3.71. The firm has a market cap of $165.49 million, a PE ratio of -0.93, a price-to-earnings-growth ratio of 0.62 and a beta of 2.61. Solo Brands has a 12-month low of $1.74 and a 12-month high of $8.86.

Solo Brands (NYSE:DTC) last issued its quarterly earnings results on Thursday, March 14th. The company reported $0.13 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $166.15 million. On average, equities research analysts anticipate 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.