Dr. Martens (LON:DOCS) Trading Down 2.8% - What's Next?

Key Points

• Dr. Martens shares fell 2.8% to GBX 71.08, with trading volume down 80% from the average daily level. The company’s market capitalization is approximately £680.34 million.
• Analysts maintain a generally positive view, with an average rating of “Moderate Buy” and a consensus price target of GBX 105. Berenberg lowered its target from GBX 114 to GBX 110, while RBC retained a “sector perform” rating with a GBX 100 target.
• Insiders have been buying shares: two executives purchased a combined 186,829 shares at GBX 72 each, contributing to roughly 300,091 shares acquired by insiders over the past three months.

Dr. Martens plc (LON:DOCS - Get Free Report)'s share price dropped 2.8% during trading on Thursday . The company traded as low as GBX 70.40 and last traded at GBX 71.08. 1,442,787 shares traded hands during trading, a decline of 80% from the average daily volume of 7,223,208 shares. The stock had previously closed at GBX 73.10.

Analysts Set New Price Targets

Several brokerages have issued reports on DOCS. Berenberg Bank dropped their target price on Dr. Martens from GBX 114 to GBX 110 and set a "buy" rating for the company in a report on Tuesday, May 19th. Royal Bank Of Canada reissued a "sector perform" rating and set a GBX 100 price target on shares of Dr. Martens in a research report on Tuesday, June 2nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of GBX 105.

Dr. Martens Trading Down 2.8%

The stock has a market cap of £680.34 million, a PE ratio of 29.62, a price-to-earnings-growth ratio of 6.40 and a beta of 0.26. The company's 50-day moving average price is GBX 77.33 and its 200 day moving average price is GBX 70.56. The company has a debt-to-equity ratio of 108.85, a quick ratio of 1.13 and a current ratio of 2.61.

Insider Buying and Selling at Dr. Martens

In other Dr. Martens news, insider Giles Wilson bought 68,313 shares of Dr. Martens stock in a transaction on Thursday, June 25th. The shares were bought at an average price of GBX 72 per share, for a total transaction of £49,185.36. Also, insider Ije Nwokori purchased 118,516 shares of the firm's stock in a transaction dated Thursday, June 25th. The stock was acquired at an average cost of GBX 72 per share, for a total transaction of £85,331.52. In the last three months, insiders have acquired 300,091 shares of company stock valued at $22,061,656. 2.94% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source