Dr. Martens (LON:DOCS) Shares Down 9.6% – Here’s What Happened

Dr. Martens plc (LON:DOCS) dropped 9.6% during trading on Thursday . The stock traded as low as GBX 72.30 and last traded at GBX 73.80. Approximately 4,733,644 shares were traded during trading, an increase of 115% from the average daily volume of 2,203,986 shares. The stock had previously closed at GBX 81.60.

Wall Street Analyst Weigh In

Separately, Peel Hunt reissued a “buy” rating on shares of Dr. Martens in a report on Thursday. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of GBX 6,000.

Dr. Martens Stock Performance

The company has a fifty day moving average of GBX 90.64 and a two-hundred day moving average of GBX 80.35. The firm has a market capitalization of £713.15 million, a price-to-earnings ratio of 147.60, a PEG ratio of 6.40 and a beta of 0.11. The company has a debt-to-equity ratio of 127.27, a quick ratio of 1.13 and a current ratio of 2.85.

Dr. Martens (LON:DOCS) last posted its quarterly earnings data on Thursday, November 20th. The company reported GBX (0.90) earnings per share for the quarter. Dr. Martens had a return on equity of 18.91% and a net margin of 7.89%. As a group, equities research analysts predict that Dr. Martens plc will post 2.5809394 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Giles Wilson sold 30,000 shares of the business’s stock in a transaction on Monday, September 1st. The stock was sold at an average price of GBX 91, for a total transaction of £27,300. Also, insider Ije Nwokori sold 298,675 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of GBX 90, for a total transaction of £268,807.50. In the last three months, insiders have purchased 136,960 shares of company stock worth $12,460,163 and have sold 434,460 shares worth $39,131,400. Corporate insiders own 2.80% of the company’s stock.

Dr. Martens Company Profile

Founded in 1960, Dr. Martens is an iconic British brand with a global presence. “Docs” or “DMs” were originally
produced for their durability for workers, before being adopted by diverse youth subcultures and associated musical
movements. Today, Dr. Martens has transcended its roots while still celebrating its proud history.