Dr. Martens (LON:DOCS) Trading Down 10.1% – Here’s What Happened

Shares of Dr. Martens plc (LON:DOCS) fell 10.1% on Thursday . The stock traded as low as GBX 72.30 and last traded at GBX 73.40. 3,184,221 shares changed hands during mid-day trading, an increase of 45% from the average session volume of 2,197,130 shares. The stock had previously closed at GBX 81.60.

Analysts Set New Price Targets

Separately, Peel Hunt upgraded shares of Dr. Martens to a “buy” rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of GBX 6,000.

Dr. Martens Trading Down 10.9%

The company has a current ratio of 2.85, a quick ratio of 1.13 and a debt-to-equity ratio of 127.27. The stock has a market capitalization of £702.52 million, a price-to-earnings ratio of 145.40, a price-to-earnings-growth ratio of 6.40 and a beta of 0.11. The business has a 50 day simple moving average of GBX 90.64 and a 200-day simple moving average of GBX 80.35.

Dr. Martens (LON:DOCS) last announced 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%. On average, equities analysts predict that Dr. Martens plc will post 2.5809394 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Ije Nwokori sold 298,675 shares of the company’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. Also, insider Giles Wilson bought 105,838 shares of the business’s stock in a transaction that occurred on Monday, September 1st. The stock was purchased at an average cost of GBX 91 per share, for a total transaction of £96,312.58. In the last ninety days, insiders have acquired 136,960 shares of company stock worth $12,460,163 and have sold 434,460 shares worth $39,131,400. Company insiders own 2.80% of the company’s stock.

About Dr. Martens

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.