Dr. Martens (LON:DOCS) Shares Down 11% – Here’s Why

Dr. Martens plc (LON:DOCS) dropped 11% during mid-day trading on Tuesday . The company traded as low as GBX 66.51 and last traded at GBX 67.34. Approximately 1,309,415 shares traded hands during 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 Analysts Forecast Growth

A number of research analysts recently commented on DOCS shares. Berenberg Bank reissued a “buy” rating on shares of Dr. Martens in a report on Tuesday. Peel Hunt reiterated a “buy” rating on shares of Dr. Martens in a research note on Thursday, November 20th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 6,000.

Dr. Martens Price Performance

The company has a quick ratio of 1.13, a current ratio of 2.85 and a debt-to-equity ratio of 127.27. The company has a 50 day simple moving average of GBX 75.88 and a 200-day simple moving average of GBX 83.26. The stock has a market cap of £660.40 million, a price-to-earnings ratio of 40.19, a PEG ratio of 6.40 and a beta of 0.11.

Dr. Martens (LON:DOCS) last issued 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 anticipate that Dr. Martens plc will post 2.5809394 EPS for the current fiscal year.

Insider Transactions at Dr. Martens

In related news, insider Robert Hanson bought 96,000 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was bought at an average cost of GBX 79 per share, for a total transaction of £75,840. Insiders have bought a total of 97,130 shares of company stock valued at $7,673,816 over the last quarter. Company 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.