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

Shares of Solo Brands, Inc. (NYSE:DTC) have earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $3.54.

A number of analysts recently weighed in on DTC shares. Jefferies Financial Group cut their price target on shares of Solo Brands from $4.00 to $3.05 and set a “hold” rating on the stock in a research report on Friday, March 15th. B. Riley reiterated a “neutral” rating and issued a $2.20 price target (down from $4.00) on shares of Solo Brands in a research report on Friday, March 15th. JPMorgan Chase & Co. downgraded shares of Solo Brands from an “overweight” rating to an “underweight” rating in a research report on Friday, February 2nd. Craig Hallum downgraded shares of Solo Brands from a “buy” rating to a “hold” rating and set a $5.00 price target on the stock. in a research report on Monday, January 8th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $3.00 price target (down from $4.00) on shares of Solo Brands in a research report on Friday, March 15th.

Solo Brands Stock Performance

Solo Brands stock opened at $1.77 on Monday. The company has a current ratio of 2.21, a quick ratio of 0.95 and a debt-to-equity ratio of 0.38. Solo Brands has a 1 year low of $1.74 and a 1 year high of $8.86. The company has a market cap of $161.38 million, a PE ratio of -0.91, a PEG ratio of 0.64 and a beta of 2.61. The company’s 50-day moving average is $2.34 and its two-hundred day moving average is $3.73.

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

Insiders Place Their Bets

In related news, CEO Christopher T. Metz bought 100,000 shares of the company’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 approximately $227,000. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On Solo Brands

Several hedge funds have recently made changes to their positions in the business. American Century Companies Inc. grew its stake in shares of Solo Brands by 14.9% during the 3rd quarter. American Century Companies Inc. now owns 4,147,618 shares of the company’s stock worth $21,153,000 after acquiring an additional 538,995 shares in the last quarter. Wasatch Advisors Inc. grew its stake in shares of Solo Brands by 7.5% during the 1st quarter. Wasatch Advisors Inc. now owns 2,405,527 shares of the company’s stock worth $20,519,000 after acquiring an additional 167,806 shares in the last quarter. Boston Partners bought a new position in shares of Solo Brands during the 4th quarter worth approximately $13,159,000. Vanguard Group Inc. grew its stake in shares of Solo Brands by 16.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,779,294 shares of the company’s stock worth $9,074,000 after acquiring an additional 249,126 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Solo Brands by 216.9% during the 2nd quarter. Marshall Wace LLP now owns 1,306,598 shares of the company’s stock worth $7,395,000 after acquiring an additional 894,268 shares in the last quarter. 84.48% of the stock is owned by institutional investors.

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.