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

Solo Brands, Inc. (NYSE:DTC) has earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $2.93.

Several equities research analysts have recently commented on DTC shares. Canaccord Genuity Group reduced their price objective on Solo Brands from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Citigroup reduced their price target on Solo Brands from $2.50 to $1.35 and set a “neutral” rating for the company in a research report on Thursday, August 8th.

Solo Brands Stock Performance

Solo Brands stock opened at $1.44 on Monday. Solo Brands has a 52-week low of $1.08 and a 52-week high of $6.36. The company has a market cap of $131.43 million, a P/E ratio of -0.72 and a beta of 2.54. The company has a quick ratio of 1.15, a current ratio of 2.49 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $1.87 and a two-hundred day simple moving average of $2.01.

Solo Brands (NYSE:DTC) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). Solo Brands had a positive return on equity of 6.02% and a negative net margin of 25.62%. The business had revenue of $131.55 million during the quarter, compared to analysts’ expectations of $128.50 million. During the same period in the previous year, the business posted $0.15 EPS. Analysts predict that Solo Brands will post 0.28 EPS for the current year.

Insider Activity

In other Solo Brands news, CEO Christopher T. Metz bought 49,310 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average price of $1.97 per share, for a total transaction of $97,140.70. Following the completion of the transaction, the chief executive officer now owns 250,000 shares of the company’s stock, valued at approximately $492,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Christopher T. Metz bought 49,310 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was bought at an average cost of $1.97 per share, with a total value of $97,140.70. Following the completion of the purchase, the chief executive officer now owns 250,000 shares of the company’s stock, valued at approximately $492,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher T. Metz purchased 52,366 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was bought at an average price of $1.94 per share, for a total transaction of $101,590.04. Following the purchase, the chief executive officer now owns 152,366 shares in the company, valued at $295,590.04. The disclosure for this purchase can be found here. Insiders have acquired 351,676 shares of company stock worth $523,731 over the last ninety days. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Solo Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in shares of Solo Brands by 23.7% during the 4th quarter. Victory Capital Management Inc. now owns 131,460 shares of the company’s stock worth $810,000 after acquiring an additional 25,194 shares in the last quarter. Boston Partners bought a new position in Solo Brands during the fourth quarter valued at $13,159,000. Janney Montgomery Scott LLC grew its stake in shares of Solo Brands by 47.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 105,115 shares of the company’s stock worth $648,000 after buying an additional 33,638 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of Solo Brands by 18.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 867,941 shares of the company’s stock worth $5,347,000 after buying an additional 133,600 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC purchased a new stake in shares of Solo Brands during the 4th quarter valued at about $97,000. 84.48% of the stock is owned by institutional investors.

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.