Solo Brands (NYSE:DTC) Lifted to “Buy” at Citigroup

Citigroup upgraded shares of Solo Brands (NYSE:DTC) from a neutral rating to a buy rating in a research report report published on Wednesday morning, PriceTargets.com reports. The firm currently has $20.00 target price on the stock, up from their prior target price of $17.00.

Several other research firms also recently commented on DTC. JPMorgan Chase & Co. began coverage on Solo Brands in a research report on Monday, November 22nd. They issued an overweight rating and a $27.00 target price for the company. Credit Suisse Group began coverage on Solo Brands in a research report on Monday, November 22nd. They issued an outperform rating and a $28.00 target price for the company. Jefferies Financial Group increased their target price on Solo Brands from $32.00 to $33.00 and gave the company a buy rating in a research report on Tuesday. William Blair started coverage on Solo Brands in a research report on Monday, November 22nd. They issued an outperform rating for the company. Finally, Piper Sandler started coverage on Solo Brands in a research note on Monday, November 22nd. They issued an overweight rating and a $23.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Solo Brands has a consensus rating of Buy and a consensus price target of $26.50.

NYSE:DTC opened at $15.93 on Wednesday. The firm’s fifty day moving average is $16.59. The company has a quick ratio of 1.07, a current ratio of 4.98 and a debt-to-equity ratio of 0.92. Solo Brands has a fifty-two week low of $13.46 and a fifty-two week high of $23.39.

Solo Brands (NYSE:DTC) last announced its quarterly earnings data on Tuesday, December 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.10). The company had revenue of $69.40 million during the quarter, compared to analyst estimates of $68.05 million. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, research analysts expect that Solo Brands will post 0.98 earnings per share for the current year.

In related news, CEO John Merris bought 14,126 shares of the company’s stock in a transaction dated Tuesday, December 14th. The shares were bought at an average price of $14.12 per share, for a total transaction of $199,459.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Solo Brands Company Profile

Solo Brands Inc is a DTC platform which offers products directly to consumers primarily online through lifestyle brands Solo Stove firepits, stoves, and accessories, Chubbies apparel, Oru Kayak, a folding portable kayak and Isle paddleboards. Solo Brands Inc is based in SOUTHLAKE, Texas.

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Analyst Recommendations for Solo Brands (NYSE:DTC)

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