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

Dr. Martens plc (LON:DOCS - Get Free Report)'s stock price was up 25.8% during mid-day trading on Friday . The stock traded as high as GBX 76 ($1.03) and last traded at GBX 75.40 ($1.02). Approximately 8,364,149 shares traded hands during 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).

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reduced their target price on Dr. Martens from GBX 7,000 ($94.86) to GBX 6,000 ($81.31) and set a "sector perform" rating for the company in a report on Monday, May 19th.

Dr. Martens Price Performance

The company has a current ratio of 2.85, a quick ratio of 1.13 and a debt-to-equity ratio of 127.27. The stock has a 50-day simple moving average of GBX 55.34 and a 200 day simple moving average of GBX 62.91. The stock has a market capitalization of £751.86 million, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 6.40 and a beta of 0.11.

Dr. Martens (LON:DOCS - Get Free Report) last announced its quarterly earnings data 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%. On average, equities research analysts forecast that Dr. Martens plc will post 2.5809394 EPS for the current fiscal year.

Dr. Martens Cuts Dividend

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

Insider Activity at Dr. Martens

In other news, insider Giles Wilson bought 32,640 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were purchased at an average price of GBX 54 ($0.73) per share, for a total transaction of £17,625.60 ($23,886.16). Over the last quarter, insiders have acquired 33,206 shares of company stock valued at $1,792,771. 4.36% of the stock is currently owned by corporate insiders.

About Dr. Martens

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.