Dr. Martens (LON:DOCS) Shares Down 12.6% – Here’s Why

Dr. Martens plc (LON:DOCS) dropped 12.6% during trading on Tuesday . The company traded as low as GBX 65 and last traded at GBX 66.10. Approximately 4,806,140 shares were traded during trading, an increase of 166% from the average daily volume of 1,808,856 shares. The stock had previously closed at GBX 75.65.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DOCS. Peel Hunt restated a “buy” rating on shares of Dr. Martens in a report on Thursday, November 20th. Berenberg Bank reissued a “buy” rating on shares of Dr. Martens in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Dr. Martens currently has a consensus rating of “Moderate Buy” and an average target price of GBX 6,000.

Dr. Martens Stock Up 3.6%

The company has a market cap of £657.97 million, a price-to-earnings ratio of 40.04, 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. The stock has a 50-day simple moving average of GBX 75.76 and a 200-day simple moving average of GBX 83.16.

Dr. Martens (LON:DOCS) last posted its quarterly earnings data on Thursday, November 20th. The company reported GBX (0.90) EPS for the quarter. Dr. Martens had a net margin of 7.89% and a return on equity of 18.91%. As a group, analysts predict that Dr. Martens plc will post 2.5809394 EPS for the current year.

Insider Buying and Selling at Dr. Martens

In related news, insider Robert Hanson bought 96,000 shares of the business’s stock in a transaction on Friday, December 5th. The shares were bought at an average cost of GBX 79 per share, for a total transaction of £75,840. Insiders acquired a total of 97,130 shares of company stock worth $7,673,816 in the last quarter. Insiders own 2.79% 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.