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

Solo Brands, Inc. (NYSE:DTCGet Rating) has been assigned an average recommendation of “Buy” from the eight ratings firms that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $20.68.

Several research firms have recently issued reports on DTC. Credit Suisse Group lowered their price objective on Solo Brands from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, March 30th. Zacks Investment Research raised shares of Solo Brands from a “hold” rating to a “strong-buy” rating and set a $4.75 target price for the company in a research report on Tuesday, May 17th. Finally, Citigroup decreased their target price on shares of Solo Brands from $16.00 to $11.00 in a research report on Friday, May 13th.

In related news, CEO John Merris acquired 90,000 shares of Solo Brands stock in a transaction dated Friday, May 27th. The stock was bought at an average price of $4.89 per share, with a total value of $440,100.00. Following the transaction, the chief executive officer now directly owns 118,126 shares in the company, valued at approximately $577,636.14. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Somer Webb acquired 20,116 shares of Solo Brands stock in a transaction dated Tuesday, May 24th. The shares were bought at an average cost of $3.88 per share, with a total value of $78,050.08. Following the transaction, the chief financial officer now owns 22,116 shares in the company, valued at $85,810.08. The disclosure for this purchase can be found here. Company insiders own 4.34% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Summit Partners L P bought a new position in shares of Solo Brands in the 4th quarter worth $688,266,000. Bertram Growth Capital Iii Gpllc L.L.C. bought a new position in shares of Solo Brands in the 4th quarter worth $183,224,000. Wasatch Advisors Inc. lifted its holdings in shares of Solo Brands by 7.5% in the 1st quarter. Wasatch Advisors Inc. now owns 2,405,527 shares of the company’s stock worth $20,519,000 after purchasing an additional 167,806 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Solo Brands by 31.8% in the 1st quarter. American Century Companies Inc. now owns 2,145,495 shares of the company’s stock worth $18,301,000 after purchasing an additional 517,370 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Solo Brands by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,116,197 shares of the company’s stock valued at $9,522,000 after acquiring an additional 3,878 shares in the last quarter. Institutional investors own 93.69% of the company’s stock.

Solo Brands stock opened at $4.80 on Friday. The business has a 50 day moving average of $5.80 and a 200-day moving average of $10.20. Solo Brands has a 1 year low of $3.66 and a 1 year high of $23.39. The company has a quick ratio of 1.03, a current ratio of 3.43 and a debt-to-equity ratio of 0.25.

Solo Brands (NYSE:DTCGet Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.11. The firm had revenue of $82.20 million during the quarter, compared to analyst estimates of $84.60 million. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Solo Brands will post 1.31 EPS for the current year.

Solo Brands Company Profile (Get Rating)

Solo Brands, Inc operates a direct-to-consumer platform that offers outdoor 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; grills, cook tops, and tools; kayaks under the Oru brand name; paddle boards under the ISLE brand name; and storage solutions for fire pits, firewood, and other accessories.

See Also

Analyst Recommendations for Solo Brands (NYSE:DTC)

Want More Great Investing Ideas?

Receive News & Ratings for Solo Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solo Brands and related companies with MarketBeat.com's FREE daily email newsletter.