Dr. Martens (LON:DOCS) Stock Price Down 10.9% – Here’s What Happened

Dr. Martens plc (LON:DOCS)’s stock price dropped 10.9% during trading on Thursday . The company traded as low as GBX 72.30 and last traded at GBX 72.70. Approximately 3,233,615 shares changed hands during mid-day trading, an increase of 47% from the average daily volume of 2,197,348 shares. The stock had previously closed at GBX 81.60.

Analyst Ratings Changes

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

Dr. Martens Stock Down 9.7%

The company has a 50-day simple moving average of GBX 90.64 and a 200-day simple moving average of GBX 80.35. The firm has a market cap of £711.70 million, a PE ratio of 147.30, a price-to-earnings-growth ratio of 6.40 and a beta of 0.11. The company has a debt-to-equity ratio of 127.27, a current ratio of 2.85 and a quick ratio of 1.13.

Dr. Martens (LON:DOCS) last released its earnings results 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%. Analysts expect that Dr. Martens plc will post 2.5809394 earnings per share for the current fiscal year.

Insider Activity at Dr. Martens

In other Dr. Martens news, insider Ije Nwokori sold 298,675 shares of the firm’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 purchased 105,838 shares of the business’s stock in a transaction dated Monday, September 1st. The shares were purchased at an average price of GBX 91 per share, for a total transaction of £96,312.58. In the last three months, insiders purchased 136,960 shares of company stock worth $12,460,163 and sold 434,460 shares worth $39,131,400. 2.80% of the stock is owned by corporate insiders.

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.