Dr. Martens (LON:DOCS) Shares Up 25.8% - Time to Buy?

Dr. Martens plc (LON:DOCS - Get Free Report)'s share price shot up 25.8% during mid-day trading on Thursday . The stock traded as high as GBX 76 ($1.03) and last traded at GBX 75.40 ($1.02). 8,364,149 shares changed hands during mid-day trading, an increase of 271% from the average session 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 lowered their target price on shares of Dr. Martens from GBX 7,000 ($94.75) to GBX 6,000 ($81.21) and set a "sector perform" rating for the company in a report on Monday, May 19th.

Dr. Martens Stock Up 8.7%

The business's fifty day moving average is GBX 55.34 and its two-hundred day moving average is GBX 62.91. The company has a market cap of £795.54 million, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 6.40 and a beta of 0.11. The company has a debt-to-equity ratio of 127.27, a quick ratio of 1.13 and a current ratio of 2.85.

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) earnings per share for the quarter. Dr. Martens had a net margin of 7.89% and a return on equity of 18.91%. Equities analysts predict that Dr. Martens plc will post 2.5809394 EPS for the current year.

Dr. Martens Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, April 8th. Investors 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 yield of 1.47%. Dr. Martens's payout ratio is 42.53%.

Insider Activity at Dr. Martens

In other Dr. Martens news, insider Giles Wilson bought 32,640 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were acquired at an average price of GBX 54 ($0.73) per share, with a total value of £17,625.60 ($23,857.07). Insiders purchased 33,206 shares of company stock worth $1,792,771 in the last 90 days. 4.36% of the stock is owned by corporate 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.