Royal Bank of Canada Issues Pessimistic Forecast for Dr. Martens (LON:DOCS) Stock Price

Dr. Martens (LON:DOCS) had its price objective dropped by equities research analysts at Royal Bank of Canada from GBX 7,000 ($93.75) to GBX 6,000 ($80.35) in a research report issued on Monday, Marketbeat.com reports. The firm presently has a “sector perform” rating on the stock.

Dr. Martens Stock Up 1.7%

DOCS opened at GBX 58.10 ($0.78) on Monday. The company has a fifty day moving average of GBX 53.47 and a two-hundred day moving average of GBX 62.50. The company has a debt-to-equity ratio of 127.27, a quick ratio of 1.13 and a current ratio of 2.85. Dr. Martens has a fifty-two week low of GBX 43.02 ($0.58) and a fifty-two week high of GBX 93.25 ($1.25). The stock has a market capitalization of £564.01 million, a price-to-earnings ratio of 8.24, a PEG ratio of 6.40 and a beta of 0.11.

Insider Activity

In other news, insider Giles Wilson purchased 32,640 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was purchased at an average cost of GBX 54 ($0.72) per share, for a total transaction of £17,625.60 ($23,604.66). Insiders acquired 33,206 shares of company stock worth $1,792,771 over the last three months. 4.36% of the stock is currently owned by corporate insiders.

Dr. Martens Company Profile

Dr. Martens is an iconic British brand founded in 1960 in Northamptonshire. Originally produced for workers looking
for tough, durable boots, the brand was quickly adopted by diverse youth subcultures and associated musical
movements. Dr. Martens have since transcended their working-class roots while still celebrating their proud heritage
and, six decades later, “Docs” or “DMs” are worn by people around the world who use them as a symbol of
empowerment and their own individual attitude.

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.