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

Solo Brands, Inc. (NYSE:DTC) has been given an average recommendation of “Hold” by the eight research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $2.93.

DTC has been the subject of several analyst reports. Citigroup decreased their price objective on Solo Brands from $2.50 to $1.35 and set a “neutral” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $3.00 target price on shares of Solo Brands in a research report on Monday, September 30th.

Insider Buying and Selling

In other news, CEO Christopher T. Metz bought 134,826 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $1.30 per share, with a total value of $175,273.80. Following the completion of the acquisition, the chief executive officer now directly owns 500,000 shares of the company’s stock, valued at $650,000. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Solo Brands news, CEO Christopher T. Metz acquired 134,826 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $1.30 per share, for a total transaction of $175,273.80. Following the completion of the purchase, the chief executive officer now directly owns 500,000 shares of the company’s stock, valued at $650,000. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher T. Metz bought 115,174 shares of Solo Brands stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of $1.30 per share, with a total value of $149,726.20. Following the acquisition, the chief executive officer now owns 365,174 shares of the company’s stock, valued at $474,726.20. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.73% of the stock is currently owned by company insiders.

Institutional Trading of Solo Brands

Hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new position in Solo Brands in the first quarter valued at approximately $1,059,000. Empowered Funds LLC lifted its stake in shares of Solo Brands by 8.2% in the 1st quarter. Empowered Funds LLC now owns 353,987 shares of the company’s stock valued at $768,000 after purchasing an additional 26,765 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Solo Brands by 10.2% during the first quarter. Janney Montgomery Scott LLC now owns 115,837 shares of the company’s stock worth $251,000 after buying an additional 10,722 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Solo Brands during the first quarter worth $43,000. Finally, American Century Companies Inc. grew its position in Solo Brands by 7.4% during the second quarter. American Century Companies Inc. now owns 5,561,257 shares of the company’s stock valued at $12,680,000 after buying an additional 384,989 shares during the period. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Solo Brands Price Performance

Shares of DTC stock opened at $1.25 on Tuesday. The company has a market cap of $114.09 million, a P/E ratio of -0.62 and a beta of 2.54. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.49 and a quick ratio of 1.15. The stock’s 50-day moving average is $1.43 and its 200 day moving average is $1.80. Solo Brands has a 1-year low of $1.08 and a 1-year high of $6.36.

Solo Brands (NYSE:DTC) last issued 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 firm 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 firm earned $0.15 EPS. Research analysts predict that Solo Brands will post 0.18 earnings per share for the current fiscal 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.