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

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

DTC has been the topic of several research reports. Jefferies Financial Group reduced their price target on Solo Brands from $4.00 to $3.05 and set a “hold” rating on the stock in a report on Friday, March 15th. B. Riley reiterated a “neutral” rating and issued a $2.20 target price (down from $4.00) on shares of Solo Brands in a report on Friday, March 15th. Canaccord Genuity Group reduced their target price on Solo Brands from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. William Blair cut Solo Brands from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. Finally, Craig Hallum cut Solo Brands from a “buy” rating to a “hold” rating and set a $5.00 target price on the stock. in a report on Monday, January 8th.

Insiders Place Their Bets

In other Solo Brands news, CEO Christopher T. Metz purchased 100,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $2.27 per share, for a total transaction of $227,000.00. Following the acquisition, the chief executive officer now owns 100,000 shares of the company’s stock, valued at $227,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On Solo Brands

A number of large investors have recently modified their holdings of the company. American International Group Inc. lifted its holdings in shares of Solo Brands by 38.4% in the 2nd quarter. American International Group Inc. now owns 10,287 shares of the company’s stock worth $42,000 after purchasing an additional 2,852 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Solo Brands by 39.0% in the 1st quarter. JPMorgan Chase & Co. now owns 10,777 shares of the company’s stock worth $92,000 after purchasing an additional 3,023 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Solo Brands by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,116,197 shares of the company’s stock worth $9,522,000 after purchasing an additional 3,878 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Solo Brands by 8.2% in the 1st quarter. Bank of America Corp DE now owns 52,742 shares of the company’s stock worth $379,000 after purchasing an additional 3,983 shares in the last quarter. Finally, Parkside Financial Bank & Trust bought a new position in Solo Brands during the 4th quarter valued at $25,000. 84.48% of the stock is currently owned by institutional investors.

Solo Brands Stock Performance

NYSE:DTC opened at $1.77 on Monday. The stock has a market cap of $161.38 million, a P/E ratio of -0.91, a price-to-earnings-growth ratio of 0.64 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. The stock’s 50-day moving average is $2.34 and its 200-day moving average is $3.73. Solo Brands has a 1-year low of $1.74 and a 1-year high of $8.86.

Solo Brands (NYSE:DTC) last released its quarterly earnings results on Thursday, March 14th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.05. The company had revenue of $165.32 million for the quarter, compared to analysts’ expectations of $166.15 million. Solo Brands had a positive return on equity of 7.33% and a negative net margin of 22.50%. Equities research analysts anticipate that Solo Brands will post 0.25 earnings per share 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.