Dr. Martens (LON:DOCS) Trading Up 24% – Here’s Why

Shares of Dr. Martens plc (LON:DOCS) were up 24% on Thursday . The company traded as high as GBX 76.40 ($1.03) and last traded at GBX 74.35 ($1.01). Approximately 7,443,822 shares traded hands during trading, an increase of 232% from the average daily volume of 2,245,163 shares. The stock had previously closed at GBX 59.95 ($0.81).

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reduced their target price on shares of 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 report on Monday, May 19th.

Dr. Martens Stock Up 8.7%

The firm has a market capitalization of £795.54 million, a PE ratio of 11.62, a P/E/G ratio of 6.40 and a beta of 0.11. The company has a debt-to-equity ratio of 127.27, a current ratio of 2.85 and a quick ratio of 1.13. The company has a 50-day moving average price of GBX 55.34 and a 200 day moving average price of GBX 62.80.

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

Dr. Martens Cuts Dividend

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

Insider Activity

In other news, insider Giles Wilson purchased 32,640 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was purchased at an average cost of GBX 54 ($0.73) per share, with a total value of £17,625.60 ($23,844.16). In the last 90 days, insiders have purchased 33,206 shares of company stock valued at $1,792,771. 4.36% of the stock is currently 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.