Dr. Martens (LON:DOCS) Shares Up 25.8% - Here's What Happened

Dr. Martens plc (LON:DOCS - Get Free Report) shares were up 25.8% during mid-day trading on Thursday . The company traded as high as GBX 76 ($1.03) and last traded at GBX 75.40 ($1.02). Approximately 8,364,149 shares changed hands during mid-day trading, an increase of 271% from the average daily volume of 2,253,765 shares. The stock had previously closed at GBX 59.95 ($0.81).

Analysts Set New Price Targets

Separately, Royal Bank of Canada cut their target price on Dr. Martens from GBX 7,000 ($94.75) to GBX 6,000 ($81.21) and set a "sector perform" rating on the stock in a research report on Monday, May 19th.

Dr. Martens Stock Performance

The company has a market cap of £795.54 million, a P/E ratio of 11.62, a PEG ratio of 6.40 and a beta of 0.11. The company has a 50 day moving average price of GBX 55.34 and a 200-day moving average price of GBX 62.91. 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 - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The company reported GBX 2.40 ($0.03) earnings per share (EPS) for the quarter. Dr. Martens had a return on equity of 18.91% and a net margin of 7.89%. Equities analysts expect that Dr. Martens plc will post 2.5809394 EPS for the current fiscal year.

Dr. Martens Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, April 8th. Shareholders of record on Thursday, March 6th were given a dividend of GBX 0.85 ($0.01) per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a yield of 1.47%. Dr. Martens's payout ratio is presently 42.53%.

Insiders Place Their Bets

In other Dr. Martens news, insider Giles Wilson acquired 32,640 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was purchased at an average cost of GBX 54 ($0.73) per share, for a total transaction of £17,625.60 ($23,857.07). In the last ninety days, insiders acquired 33,206 shares of company stock worth $1,792,771. 4.36% of the stock is currently owned by company 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.