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

Shares of Solo Brands, Inc. (NYSE:DTC) have earned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned 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 $3.54.

A number of equities research analysts have weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $3.00 price objective (down previously from $4.00) on shares of Solo Brands in a report on Friday, March 15th. Jefferies Financial Group cut their price objective on shares of Solo Brands from $4.00 to $3.05 and set a “hold” rating on the stock in a report on Friday, March 15th. JPMorgan Chase & Co. cut shares of Solo Brands from an “overweight” rating to an “underweight” rating in a report on Friday, February 2nd. Citigroup cut their price objective on shares of Solo Brands from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Finally, 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 report on Monday, January 8th.

Insider Transactions at Solo Brands

In other Solo Brands news, CEO Christopher T. Metz purchased 100,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average price of $2.27 per share, for a total transaction of $227,000.00. Following the purchase, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at approximately $227,000. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 4.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DTC. Parkside Financial Bank & Trust purchased a new position in shares of Solo Brands during the 4th quarter worth $25,000. UBS Group AG lifted its stake in shares of Solo Brands by 9,253.0% during the 4th quarter. UBS Group AG now owns 9,353 shares of the company’s stock valued at $35,000 after buying an additional 9,253 shares in the last quarter. Citigroup Inc. purchased a new position in shares of Solo Brands during the 2nd quarter valued at $37,000. Public Employees Retirement System of Ohio purchased a new position in shares of Solo Brands during the 4th quarter valued at $41,000. Finally, American International Group Inc. lifted its stake in shares of Solo Brands by 38.4% during the 2nd quarter. American International Group Inc. now owns 10,287 shares of the company’s stock valued at $42,000 after buying an additional 2,852 shares in the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Solo Brands Price Performance

Shares of NYSE DTC opened at $1.81 on Monday. Solo Brands has a 1 year low of $1.74 and a 1 year high of $8.86. 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 company’s 50-day moving average is $2.30 and its 200 day moving average is $3.68. The stock has a market capitalization of $165.04 million, a P/E ratio of -0.93, a P/E/G ratio of 0.63 and a beta of 2.61.

Solo Brands (NYSE:DTC) last announced its quarterly earnings results on Thursday, March 14th. The company reported $0.13 earnings per share (EPS) for the quarter, beating 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 negative net margin of 22.50% and a positive return on equity of 7.33%. On average, sell-side analysts expect 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.