Dr. Martens (LON:DOCS) Stock Price Down 9.7% – Here’s Why

Dr. Martens plc (LON:DOCS) traded down 9.7% during mid-day trading on Thursday . The stock traded as low as GBX 72.30 and last traded at GBX 73.70. 98,205,391 shares traded hands during mid-day trading, an increase of 3,652% from the average session volume of 2,617,578 shares. The stock had previously closed at GBX 81.60.

Analyst Upgrades and Downgrades

Separately, Peel Hunt reaffirmed a “buy” rating and issued a GBX 112 price target on shares of Dr. Martens in a report on Thursday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of GBX 3,056.

Dr. Martens Trading Down 9.6%

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 firm has a market cap 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 fifty day moving average price of GBX 90.64 and a 200-day moving average price of GBX 80.35.

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

Insider Buying and Selling at Dr. Martens

In other news, insider Giles Wilson acquired 105,838 shares of the business’s stock in a transaction on Monday, September 1st. The stock was bought at an average price of GBX 91 per share, with a total value of £96,312.58. Also, insider Ije Nwokori sold 298,675 shares of the company’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of GBX 90, for a total transaction of £268,807.50. Over the last quarter, insiders purchased 136,960 shares of company stock valued at $12,460,163 and sold 434,460 shares valued at $39,131,400. 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.