Dr. Martens (LON:DOCS) Shares Down 12.4% – Here’s Why

Dr. Martens plc (LON:DOCS) shares dropped 12.4% during mid-day trading on Tuesday . The company traded as low as GBX 65 and last traded at GBX 66.30. Approximately 4,229,807 shares were traded during mid-day trading, an increase of 138% from the average daily volume of 1,776,838 shares. The stock had previously closed at GBX 75.65.

Analyst Upgrades and Downgrades

DOCS has been the topic of a number of analyst reports. Peel Hunt reiterated a “buy” rating on shares of Dr. Martens in a research report on Thursday, November 20th. Berenberg Bank reaffirmed a “buy” rating on shares of Dr. Martens in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of GBX 6,000.

Dr. Martens Trading Up 3.6%

The stock’s 50-day moving average price is GBX 75.88 and its 200 day moving average price is GBX 83.26. 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 firm has a market capitalization of £657.97 million, a PE ratio of 40.04, a price-to-earnings-growth ratio of 6.40 and a beta of 0.11.

Dr. Martens (LON:DOCS) last released its quarterly earnings data on Thursday, November 20th. The company reported GBX (0.90) 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, sell-side analysts expect that Dr. Martens plc will post 2.5809394 EPS for the current fiscal year.

Insider Activity at Dr. Martens

In related news, insider Robert Hanson purchased 96,000 shares of Dr. Martens stock in a transaction dated Friday, December 5th. The stock was purchased at an average cost of GBX 79 per share, with a total value of £75,840. Over the last three months, insiders acquired 97,130 shares of company stock valued at $7,673,816. Insiders own 2.79% of the company’s stock.

About Dr. Martens

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.