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

Dr. Martens plc (LON:DOCS) 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 changed hands 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.

Analysts Set New Price Targets

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

Dr. Martens Stock Performance

The company’s 50-day simple moving average is GBX 89.93 and its 200-day simple moving average is GBX 80.61. The stock has a market capitalization of £707.84 million, a price-to-earnings ratio of 146.50, a PEG 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) earnings per share for the quarter. Dr. Martens had a return on equity of 18.91% and a net margin of 7.89%. On average, analysts expect that Dr. Martens plc will post 2.5809394 EPS for the current year.

Insider Activity

In related news, insider Giles Wilson sold 30,000 shares of Dr. Martens stock in a transaction that occurred on Monday, September 1st. The stock was sold at an average price of GBX 91, for a total value of £27,300. Also, 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. In 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.