Dr. Martens (LON:DOCS) Shares Down 9.6% – What’s Next?

Dr. Martens plc (LON:DOCS)’s stock price fell 9.6% on Thursday . The company traded as low as GBX 72.30 and last traded at GBX 73.80. 4,733,644 shares were traded during mid-day trading, an increase of 115% from the average session volume of 2,203,986 shares. The stock had previously closed at GBX 81.60.

Analysts Set New Price Targets

Separately, Peel Hunt reaffirmed a “buy” rating 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 issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of GBX 6,000.

Dr. Martens Price Performance

The firm has a 50 day moving average price of GBX 90.64 and a 200 day moving average price of GBX 80.35. The stock has a market capitalization of £713.15 million, a PE ratio of 147.60, a price-to-earnings-growth ratio of 6.40 and a beta of 0.11. The company has a current ratio of 2.85, a quick ratio of 1.13 and a debt-to-equity ratio of 127.27.

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

Insiders Place Their Bets

In other Dr. Martens news, insider Ije Nwokori sold 298,675 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of GBX 90, for a total value of £268,807.50. Also, insider Giles Wilson sold 30,000 shares of the firm’s stock in a transaction dated Monday, September 1st. The shares were sold at an average price of GBX 91, for a total value of £27,300. Over the last three months, insiders bought 136,960 shares of company stock valued at $12,460,163 and sold 434,460 shares valued at $39,131,400. Corporate 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.