Dr. Martens (LON:DOCS) Trading 1.6% Higher – Here’s Why

Shares of Dr. Martens plc (LON:DOCS) shot up 1.6% during trading on Friday . The company traded as high as GBX 83.80 and last traded at GBX 83.49. 740,729 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 7,520,830 shares. The stock had previously closed at GBX 82.20.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on DOCS shares. Royal Bank Of Canada reissued a “sector perform” rating and set a GBX 100 price objective on shares of Dr. Martens in a research report on Tuesday, June 2nd. Berenberg Bank dropped their target price on shares of Dr. Martens from GBX 114 to GBX 110 and set a “buy” rating for the company in a research report on Tuesday, May 19th. 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, Dr. Martens currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 105.

Dr. Martens Price Performance

The business has a fifty day simple moving average of GBX 73.70 and a two-hundred day simple moving average of GBX 69.01. The company has a current ratio of 2.61, a quick ratio of 1.13 and a debt-to-equity ratio of 108.85. The stock has a market cap of £799.13 million, a PE ratio of 34.79, a P/E/G ratio of 6.40 and a beta of 0.24.

Dr. Martens (LON:DOCS) last released its earnings results on Tuesday, May 19th. The company reported GBX 4.20 earnings per share (EPS) for the quarter. Dr. Martens had a net margin of 3.11% and a return on equity of 6.89%. The firm had revenue of £764.90 million during the quarter. Research analysts forecast that Dr. Martens plc will post 2.5809394 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Ije Nwokori bought 118,516 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were acquired at an average cost of GBX 72 per share, with a total value of £85,331.52. Also, insider Giles Wilson bought 68,313 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was bought at an average cost of GBX 72 per share, for a total transaction of £49,185.36. Insiders have acquired 300,199 shares of company stock valued at $22,061,408 in the last quarter. 2.94% of the stock is owned by company 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. 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.