Dr. Martens (LON:DOCS) Shares Up 7.2% – Here’s What Happened

Dr. Martens plc (LON:DOCS)’s share price shot up 7.2% during mid-day trading on Tuesday . The company traded as high as GBX 71.30 and last traded at GBX 68.90. 1,553,801 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 9,968,290 shares. The stock had previously closed at GBX 64.30.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DOCS. Berenberg Bank reduced their price target on shares of Dr. Martens from GBX 114 to GBX 110 and set a “buy” rating on the stock in a research note on Tuesday. Royal Bank Of Canada restated a “sector perform” rating on shares of Dr. Martens in a report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 110.

Dr. Martens Stock Up 2.7%

The company has a current ratio of 2.61, a quick ratio of 1.13 and a debt-to-equity ratio of 108.27. The company has a market cap of £666.40 million, a price-to-earnings ratio of 40.53, a PEG ratio of 6.40 and a beta of 0.22. The firm’s fifty day simple moving average is GBX 64.05 and its 200 day simple moving average is GBX 71.13.

Dr. Martens (LON:DOCS) last posted its quarterly earnings results on Tuesday, May 19th. The company reported GBX 4.20 EPS for the quarter. Dr. Martens had a net margin of 3.11% and a return on equity of 6.89%. The company had revenue of £764.90 million during the quarter. Sell-side analysts predict that Dr. Martens plc will post 2.5809394 earnings per share for the current year.

Insider Buying and Selling

In other Dr. Martens news, insider Ije Nwokori sold 204,051 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of GBX 66, for a total transaction of £134,673.66. In the last ninety days, insiders have purchased 930 shares of company stock worth $59,984. Insiders own 2.81% 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.