Analysts Set Solo Brands, Inc. (NYSE:DTC) Price Target at $3.54

Solo Brands, Inc. (NYSE:DTC) has received a consensus recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned 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.

Several brokerages recently weighed in on DTC. Craig Hallum cut shares of Solo Brands from a “buy” rating to a “hold” rating and set a $5.00 price target on the stock. in a research report on Monday, January 8th. William Blair cut shares of Solo Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. B. Riley reaffirmed a “neutral” rating and issued a $2.20 price target (down previously from $4.00) on shares of Solo Brands in a research report on Friday, March 15th. Canaccord Genuity Group dropped their price target on shares of Solo Brands from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $3.00 price target (down previously from $4.00) on shares of Solo Brands in a research report on Friday, March 15th.

Solo Brands Stock Performance

Shares of DTC opened at $1.81 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 0.95. The stock has a 50-day moving average of $2.30 and a 200-day moving average of $3.68. The company has a market cap of $165.04 million, a PE ratio of -0.93, a P/E/G ratio of 0.63 and a beta of 2.61. Solo Brands has a one year low of $1.74 and a one year high of $8.86.

Solo Brands (NYSE:DTC) last issued its earnings results on Thursday, March 14th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.08 by $0.05. The company had revenue of $165.32 million during 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%. On average, equities research analysts predict that Solo Brands will post 0.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Christopher T. Metz bought 100,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were purchased at an average price of $2.27 per share, with a total value 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.93% of the company’s stock.

Institutional Investors Weigh In On Solo Brands

Hedge funds have recently modified their holdings of the stock. Parkside Financial Bank & Trust bought a new stake in shares of Solo Brands in the 4th quarter worth approximately $25,000. Citigroup Inc. bought a new stake in shares of Solo Brands in the 2nd quarter worth approximately $37,000. Quantbot Technologies LP bought a new stake in shares of Solo Brands in the 1st quarter worth approximately $56,000. Public Employees Retirement System of Ohio bought a new stake in shares of Solo Brands in the 4th quarter worth approximately $41,000. Finally, UBS Group AG raised its holdings in shares of Solo Brands by 9,253.0% in the 4th quarter. UBS Group AG now owns 9,353 shares of the company’s stock worth $35,000 after purchasing an additional 9,253 shares during the period. Institutional investors 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.