Solo Brands’ (DTC) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Solo Brands (NYSE:DTC) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $3.00 target price on the stock.

Separately, Citigroup reduced their target price on Solo Brands from $2.50 to $1.35 and set a neutral rating for the company in a report on Thursday, August 8th. 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. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $2.93.

Solo Brands Stock Performance

Shares of DTC opened at $1.38 on Monday. The firm has a market cap of $125.49 million, a price-to-earnings ratio of -0.68 and a beta of 2.54. The company’s fifty day moving average is $1.61 and its 200-day moving average is $1.89. The company has a quick ratio of 1.15, a current ratio of 2.49 and a debt-to-equity ratio of 0.43. Solo Brands has a 12 month low of $1.08 and a 12 month high of $6.36.

Solo Brands (NYSE:DTC) last posted its 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). Solo Brands had a positive return on equity of 6.02% and a negative net margin of 25.62%. The business had revenue of $131.55 million for the quarter, compared to analyst estimates of $128.50 million. During the same period in the previous year, the company earned $0.15 earnings per share. Equities analysts expect 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 bought 134,826 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $1.30 per share, with a total value of $175,273.80. Following the acquisition, the chief executive officer now directly owns 500,000 shares of the company’s stock, valued at approximately $650,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Solo Brands news, CEO Christopher T. Metz acquired 134,826 shares of Solo Brands stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $1.30 per share, with a total value of $175,273.80. Following the completion of the transaction, the chief executive officer now owns 500,000 shares of the company’s stock, valued at $650,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher T. Metz acquired 115,174 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $1.30 per share, for a total transaction of $149,726.20. Following the purchase, the chief executive officer now owns 365,174 shares of the company’s stock, valued at approximately $474,726.20. The disclosure for this purchase can be found here. 0.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC grew its position in Solo Brands by 9.4% during the second quarter. AQR Capital Management LLC now owns 719,307 shares of the company’s stock worth $1,640,000 after buying an additional 62,014 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Solo Brands by 7.1% during the 2nd quarter. Sei Investments Co. now owns 623,283 shares of the company’s stock worth $1,421,000 after purchasing an additional 41,073 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Solo Brands by 7.4% in the second quarter. American Century Companies Inc. now owns 5,561,257 shares of the company’s stock valued at $12,680,000 after purchasing an additional 384,989 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in Solo Brands by 58.8% in the second quarter. Concurrent Investment Advisors LLC now owns 148,388 shares of the company’s stock worth $338,000 after purchasing an additional 54,970 shares during the period. Finally, Lakewood Asset Management LLC bought a new position in Solo Brands in the second quarter worth $130,000. Institutional investors own 84.48% of the company’s stock.

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.