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

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

A number of equities research analysts have recently weighed in on the stock. Piper Sandler reissued a “neutral” rating and set a $3.00 price objective (down from $4.00) on shares of Solo Brands in a 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 objective on the stock. in a report on Monday, January 8th. Citigroup dropped their price objective 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. JPMorgan Chase & Co. lowered shares of Solo Brands from an “overweight” rating to an “underweight” rating in a report on Friday, February 2nd. Finally, William Blair lowered shares of Solo Brands from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th.

Solo Brands Stock Performance

Shares of DTC stock opened at $1.82 on Monday. The business’s fifty day simple moving average is $2.32 and its 200-day simple moving average is $3.71. The company has a market cap of $165.49 million, a PE ratio of -0.93, a PEG ratio of 0.62 and a beta of 2.61. 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 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. The business had revenue of $165.32 million for the quarter, compared to the consensus estimate of $166.15 million. Solo Brands had a positive return on equity of 7.33% and a negative net margin of 22.50%. Analysts expect that Solo Brands will post 0.25 earnings per share for the current fiscal year.

Insider Transactions at Solo Brands

In related news, CEO Christopher T. Metz purchased 100,000 shares of Solo Brands stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average price of $2.27 per share, for a total transaction of $227,000.00. Following the transaction, the chief executive officer now directly owns 100,000 shares in the company, valued at $227,000. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 4.93% of the company’s stock.

Institutional Trading of Solo Brands

Hedge funds have recently bought and sold shares of the business. American Century Companies Inc. increased its holdings in shares of Solo Brands by 14.9% during the 3rd quarter. American Century Companies Inc. now owns 4,147,618 shares of the company’s stock worth $21,153,000 after buying an additional 538,995 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Solo Brands during the 3rd quarter worth approximately $365,000. Strs Ohio increased its holdings in shares of Solo Brands by 47.8% during the 3rd quarter. Strs Ohio now owns 102,700 shares of the company’s stock worth $523,000 after buying an additional 33,200 shares during the last quarter. Millrace Asset Group Inc. acquired a new stake in shares of Solo Brands during the 3rd quarter worth approximately $1,819,000. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Solo Brands during the 3rd quarter worth approximately $2,653,000. Institutional investors and hedge funds own 84.48% of the company’s stock.

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.