Dr. Martens (LON:DOCS) Trading Down 11% – Here’s What Happened

Shares of Dr. Martens plc (LON:DOCS) dropped 11% during trading on Tuesday . The stock traded as low as GBX 66.51 and last traded at GBX 67.34. Approximately 1,309,415 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 1,614,594 shares. The stock had previously closed at GBX 75.65.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DOCS. Berenberg Bank reissued a “buy” rating on shares of Dr. Martens in a research report on Thursday, November 27th. Peel Hunt reaffirmed a “buy” rating on shares of Dr. Martens in a research note on Thursday, November 20th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Dr. Martens presently has an average rating of “Moderate Buy” and an average target price of GBX 6,000.

Dr. Martens Stock Performance

The stock has a market capitalization of £641.31 million, a PE ratio of 39.03, a P/E/G 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. The firm’s 50 day moving average is GBX 76.53 and its two-hundred day moving average is GBX 83.47.

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

Insider Buying and Selling

In related news, insider Robert Hanson purchased 96,000 shares of the business’s stock in a transaction on Friday, December 5th. The shares were bought at an average price of GBX 79 per share, for a total transaction of £75,840. Over the last ninety days, insiders acquired 97,130 shares of company stock worth $7,673,816. Insiders own 2.79% 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. It operates in over
60 countries and employs over 3,650 people worldwide. Its operations are split across both Direct-to-Consumer and
wholesale channels, and in addition to its world-renowned “1460” boot its product segments span shoes including the
1461 shoe and Adrian loafer, sandals including the Zebzag mule, Kids ranges, as well as a growing line of bags and
accessories.

The Company successfully listed on the main market of the London Stock Exchange on 29 January 2021 (DOCS.L) and
is a constituent of the FTSE 250 index.