Dr. Martens (LON:DOCS) Hits New 52-Week Low – Here’s Why

Dr. Martens plc (LON:DOCS) reached a new 52-week low on Thursday. The stock traded as low as GBX 52.75 and last traded at GBX 54.25, with a volume of 49,082,344 shares trading hands. The stock had previously closed at GBX 65.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 110 price target on shares of Dr. Martens in a report on Friday, October 9th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 105.

Dr. Martens Stock Performance

The company has a debt-to-equity ratio of 108.85, a quick ratio of 1.13 and a current ratio of 2.61. The stock has a market cap of £509.26 million, a P/E ratio of 22.17, a P/E/G ratio of 6.40 and a beta of 0.26. The business’s 50-day moving average price is GBX 67.13 and its 200-day moving average price is GBX 69.53.

Dr. Martens (LON:DOCS) last announced its earnings results on Thursday, November 12th. The company reported GBX (1) EPS for the quarter. Dr. Martens had a return on equity of 6.89% and a net margin of 3.11%. The company had revenue of £290.40 million during the quarter. As a group, sell-side analysts expect that Dr. Martens plc will post 2.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Dr. Martens news, insider Ije Nwokori sold 209,160 shares of the company’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of GBX 69, for a total value of £144,320.40. 2.97% of the stock is currently owned by insiders.

Dr. Martens Company Profile

Dr. Martens is an iconic British footwear brand founded in Northamptonshire, England. Its first silhouette, the 1460 boot – named after the date it was produced – rolled off the production line on 1st April 1960. Originally chosen by workers for their air-cushioned comfort and durability, “Docs” or “DM’s” were later adopted by musicians and subcultural pioneers who took them from the street to the global stage. Over six decades later, Dr. Martens operates in more than 60 countries and employs around 3,600 people.