Dr. Martens (LON:DOCS) Shares Down 10.9% – Time to Sell?

Dr. Martens plc (LON:DOCS) traded down 10.9% during trading on Thursday . The company traded as low as GBX 72.30 and last traded at GBX 72.70. 3,233,615 shares changed hands during mid-day trading, an increase of 47% from the average session volume of 2,197,348 shares. The stock had previously closed at GBX 81.60.

Wall Street Analysts Forecast Growth

Separately, Peel Hunt raised shares of Dr. Martens to a “buy” rating in a report on Monday, August 18th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Dr. Martens currently has a consensus rating of “Hold” and a consensus target price of GBX 6,000.

Dr. Martens Stock Performance

The business has a 50-day moving average price of GBX 90.64 and a 200-day moving average price of GBX 80.35. The firm has a market capitalization of £702.52 million, a price-to-earnings ratio of 145.40, a P/E/G ratio of 6.40 and a beta of 0.11. The company has a quick ratio of 1.13, a current ratio of 2.85 and a debt-to-equity ratio of 127.27.

Dr. Martens (LON:DOCS) last released its earnings results on Thursday, November 20th. The company reported GBX (0.90) EPS for the quarter. Dr. Martens had a return on equity of 18.91% and a net margin of 7.89%. As a group, sell-side analysts forecast that Dr. Martens plc will post 2.5809394 earnings per share for the current year.

Insiders Place Their Bets

In other Dr. Martens news, insider Giles Wilson sold 30,000 shares of Dr. Martens stock in a transaction dated 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 firm’s 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 ninety days, insiders have bought 136,960 shares of company stock valued at $12,460,163 and have sold 434,460 shares valued at $39,131,400. 2.80% of the stock is owned by corporate insiders.

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.