Dr. Martens (LON:DOCS) Stock Price Up 18.8% – Still a Buy?

Dr. Martens plc (LON:DOCS)’s share price was up 18.8% on Thursday . The stock traded as high as GBX 74.30 ($1.01) and last traded at GBX 71.25 ($0.96). Approximately 6,397,914 shares traded hands during mid-day trading, an increase of 186% from the average daily volume of 2,235,389 shares. The stock had previously closed at GBX 59.95 ($0.81).

Analysts Set New Price Targets

Separately, Royal Bank of Canada decreased their target price on Dr. Martens from GBX 7,000 ($94.70) to GBX 6,000 ($81.17) and set a “sector perform” rating for the company in a research report on Monday, May 19th.

Dr. Martens Price Performance

The company has a quick ratio of 1.13, a current ratio of 2.85 and a debt-to-equity ratio of 127.27. The firm has a market capitalization of £795.54 million, a price-to-earnings ratio of 11.62, a P/E/G ratio of 6.40 and a beta of 0.11. The company has a fifty day moving average price of GBX 55.34 and a two-hundred day moving average price of GBX 62.80.

Dr. Martens (LON:DOCS) last issued its quarterly earnings results on Thursday, June 5th. The company reported GBX 2.40 ($0.03) earnings per share for the quarter. Dr. Martens had a net margin of 7.89% and a return on equity of 18.91%. On average, equities research analysts expect that Dr. Martens plc will post 2.5809394 EPS for the current fiscal year.

Dr. Martens Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, April 8th. Stockholders of record on Thursday, March 6th were issued a GBX 0.85 ($0.01) dividend. This represents a dividend yield of 1.47%. The ex-dividend date was Thursday, March 6th. Dr. Martens’s payout ratio is currently 42.53%.

Insiders Place Their Bets

In related news, insider Giles Wilson bought 32,640 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were bought at an average cost of GBX 54 ($0.73) per share, for a total transaction of £17,625.60 ($23,844.16). In the last quarter, insiders bought 33,206 shares of company stock worth $1,792,771. 4.36% of the stock is owned by 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.