Analysts Set Solo Brands, Inc. (NYSE:DTC) Price Target at $2.93

Solo Brands, Inc. (NYSE:DTC) has been given a consensus rating of “Hold” by the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $2.93.

A number of analysts have recently commented on DTC shares. Citigroup cut their target price on shares of Solo Brands from $2.50 to $1.35 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Canaccord Genuity Group reiterated a “buy” rating and set a $3.00 price objective on shares of Solo Brands in a research note on Monday, September 30th.

Solo Brands Stock Down 0.8 %

Solo Brands stock opened at $1.25 on Tuesday. 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 has a market capitalization of $114.09 million, a PE ratio of -0.62 and a beta of 2.54. The business has a 50 day simple moving average of $1.43 and a 200-day simple moving average of $1.80. Solo Brands has a 12 month low of $1.08 and a 12 month high of $6.36.

Solo Brands (NYSE:DTC) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.07). The company had revenue of $131.55 million during the quarter, compared to analysts’ expectations of $128.50 million. Solo Brands had a positive return on equity of 6.02% and a negative net margin of 25.62%. During the same period in the previous year, the firm posted $0.15 EPS. On average, analysts anticipate that Solo Brands will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Solo Brands

A number of institutional investors have recently bought and sold shares of DTC. Virtu Financial LLC acquired a new stake in shares of Solo Brands during the 1st quarter worth approximately $42,000. Williams & Novak LLC acquired a new stake in Solo Brands during the second quarter worth $42,000. Principal Financial Group Inc. purchased a new stake in Solo Brands in the first quarter valued at $43,000. Dynamic Advisor Solutions LLC acquired a new position in shares of Solo Brands in the 2nd quarter valued at $43,000. Finally, Lakewood Asset Management LLC grew its holdings in shares of Solo Brands by 42.5% during the 3rd quarter. Lakewood Asset Management LLC now owns 81,523 shares of the company’s stock worth $115,000 after purchasing an additional 24,325 shares during the period. 84.48% of the stock is owned by hedge funds and other 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.