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

Solo Brands, Inc. (NYSE:DTC) has been given an average recommendation of “Hold” by the eight research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $3.54.

A number of equities analysts recently issued reports on the stock. Citigroup decreased 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 note on Wednesday, March 6th. B. Riley reissued a “neutral” rating and issued a $2.20 price target (down from $4.00) on shares of Solo Brands in a research note on Friday, March 15th. Jefferies Financial Group decreased their price target 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. Canaccord Genuity Group decreased their price target 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, Piper Sandler restated a “neutral” rating and issued a $3.00 price objective (down previously from $4.00) on shares of Solo Brands in a report on Friday, March 15th.

Insider Activity

In other news, CEO Christopher T. Metz purchased 100,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were purchased at an average price of $2.27 per share, for a total transaction of $227,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 100,000 shares in the company, valued at approximately $227,000. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Solo Brands

A number of institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in Solo Brands by 3.9% during the third quarter. Bank of New York Mellon Corp now owns 187,710 shares of the company’s stock valued at $957,000 after purchasing an additional 7,048 shares during the period. Janney Montgomery Scott LLC bought a new position in Solo Brands in the third quarter worth approximately $365,000. WINTON GROUP Ltd bought a new position in Solo Brands in the third quarter worth approximately $71,000. Brandywine Global Investment Management LLC raised its position in Solo Brands by 13.4% in the third quarter. Brandywine Global Investment Management LLC now owns 189,329 shares of the company’s stock worth $966,000 after acquiring an additional 22,439 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Solo Brands by 57.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 128,329 shares of the company’s stock worth $654,000 after acquiring an additional 46,955 shares during the period. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Solo Brands Stock Performance

Shares of NYSE:DTC opened at $1.88 on Tuesday. The company has a market cap of $171.59 million, a price-to-earnings ratio of -0.94, a price-to-earnings-growth ratio of 0.48 and a beta of 2.58. The company has a 50-day moving average price of $1.93 and a 200-day moving average price of $3.04. The company has a current ratio of 2.80, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45. Solo Brands has a 12 month low of $1.74 and a 12 month high of $6.67.

Solo Brands (NYSE:DTC) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. Solo Brands had a negative net margin of 23.52% and a positive return on equity of 6.99%. The company had revenue of $85.32 million during the quarter, compared to the consensus estimate of $80.48 million. During the same period in the prior year, the firm earned $0.09 earnings per share. As a group, equities analysts anticipate that Solo Brands will post 0.33 EPS for the current year.

About Solo Brands

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.