Solo Brands, Inc. (NYSE:DTC) Receives $2.93 Average Price Target from Analysts

Solo Brands, Inc. (NYSE:DTC) has been given a consensus rating of “Hold” by the eight brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $2.93.

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

Solo Brands Price Performance

Shares of NYSE DTC opened at $1.40 on Monday. The company has a current ratio of 2.49, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $127.32 million, a price-to-earnings ratio of -0.69 and a beta of 2.62. Solo Brands has a twelve month low of $1.08 and a twelve month high of $6.36. The business has a 50 day simple moving average of $1.90 and a 200-day simple moving average of $2.03.

Solo Brands (NYSE:DTC) last issued its earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share 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 for the quarter, compared to analyst estimates of $128.50 million. During the same period last year, the company posted $0.15 earnings per share. As a group, equities research analysts expect that Solo Brands will post 0.28 earnings per share for the current year.

Insider Activity at Solo Brands

In related news, CEO Christopher T. Metz purchased 115,174 shares of the company’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $1.30 per share, for a total transaction of $149,726.20. Following the transaction, the chief executive officer now owns 365,174 shares of the company’s stock, valued at $474,726.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Christopher T. Metz acquired 115,174 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $1.30 per share, with a total value of $149,726.20. Following the purchase, the chief executive officer now owns 365,174 shares of the company’s stock, valued at $474,726.20. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher T. Metz bought 134,826 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $1.30 per share, with a total value of $175,273.80. Following the purchase, the chief executive officer now directly owns 500,000 shares of the company’s stock, valued at $650,000. The disclosure for this purchase can be found here. Insiders purchased 351,676 shares of company stock worth $523,731 in the last 90 days. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Solo Brands

A number of institutional investors and hedge funds have recently modified their holdings of DTC. American Century Companies Inc. lifted its position in shares of Solo Brands by 7.4% in the 2nd quarter. American Century Companies Inc. now owns 5,561,257 shares of the company’s stock valued at $12,680,000 after acquiring an additional 384,989 shares in the last quarter. Boston Partners purchased a new stake in shares of Solo Brands in the fourth quarter valued at $13,159,000. Hillsdale Investment Management Inc. boosted its position in shares of Solo Brands by 18.2% in the fourth 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 period. AQR Capital Management LLC grew its holdings in shares of Solo Brands by 9.4% during the second quarter. AQR Capital Management LLC now owns 719,307 shares of the company’s stock valued at $1,640,000 after buying an additional 62,014 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Solo Brands by 7.1% during the second quarter. Sei Investments Co. now owns 623,283 shares of the company’s stock valued at $1,421,000 after buying an additional 41,073 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

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.