Dr. Martens (LON:DOCS) Shares Down 9.6% – Here’s Why

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

Wall Street Analysts Forecast Growth

Separately, Peel Hunt reiterated a “buy” rating on shares of Dr. Martens in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Dr. Martens presently has an average rating of “Hold” and a consensus target price of GBX 6,000.

Dr. Martens Stock Performance

The business’s 50 day simple moving average is GBX 89.93 and its two-hundred day simple moving average is GBX 80.61. The firm has a market capitalization of £707.84 million, a PE ratio of 146.50, 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 issued its quarterly earnings data 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%. Research analysts expect that Dr. Martens plc will post 2.5809394 earnings per share for the current fiscal year.

Insider Activity at Dr. Martens

In other Dr. Martens news, insider Ije Nwokori sold 298,675 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of GBX 90, for a total transaction of £268,807.50. Also, insider Giles Wilson bought 105,838 shares of the stock in a transaction dated Monday, September 1st. The stock was bought at an average cost of GBX 91 per share, for a total transaction of £96,312.58. Over the last 90 days, insiders acquired 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.

About Dr. Martens

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.