Dr. Martens Share Discussion Threads

[kidknocked] 26/11/2022 16:50

https://www.dailymail.co.uk/news/article-11472247/Black-Friday-likely-saw-biggest-online-shopping-day-9-billion-spent-customers.html

[kidknocked] 26/11/2022 09:37

https://www.bbc.co.uk/news/business-63737595

[edwardt] 25/11/2022 17:18

Getting a right shoeing here...

[philanderer] 25/11/2022 10:51

RBC cuts Dr Martens price target to 310 (350) pence - 'outperform'

[volsung] 25/11/2022 08:13

I think everyone is buying false DMs from Pavers

[castleford tiger] 25/11/2022 08:12

miti 1000

Lol, Castleford Tiger...are you seriously congratulating yourself? On 25/5, on your view above, the share price was 192p....its risen in that time to 295p( yes, over 50%)....and even with this fall its 217p. Well done, an astounding call!!

My view was that the price was too high at that time even after the long fall from nearly £5.

The fact that it continued to climb back to almost £3 from the area of the low around £2 astounded me.

If you look back i continued to be amazed by the increase.

My overall view is the shares are worth £1 giving a market cap of about £1 billion.

Not sure how some of these expensive floats get away but they do.

Later, sometimes years later the whole thing falls down.

I remain interested to see if my initial view was correct.

Tiger

[windingroad] 24/11/2022 19:16

The fall today seems overdone to me. DMs are a unique global brand, long history, popular today, practical and not expensive compared to flimsy sneakers/trainers, so should survive in a recession. Management is showing strong confidence by raising the divi. I think this could bounce strongly tomorrow, so I'm in at 215. Fingers crossed.

[glavey] 24/11/2022 15:07

Pop back in 6m.

[miti 1000] 24/11/2022 14:25

Lol, Castleford Tiger...are you seriously congratulating yourself? On 25/5, on your view above, the share price was 192p....its risen in that time to 295p( yes, over 50%)....and even with this fall its 217p. Well done, an astounding call!!

[disc0dave45] 24/11/2022 14:05

matConsensus before today was 20p eps so don't see how Peels think it should be 20% up on the consensus when their margins are being hit.....and H2 could be worse IMO as cost of living really bites. Can't remember the proportion of their manufacturing that comes from China but they are already struggling with further lockdowns.

[castleford tiger] 24/11/2022 14:03

essential
you are coming to my way of thinking then?

tiger

[matrixtrader] 24/11/2022 13:38

In general I have avoided all consumer stocks but went for this as I didn't realise how popular they were with the ladies! I thought the skin hears wore them with steel toe caps ha! But yes young women and celebrities apparently love this as chic grunge etc

[essentialinvestor] 24/11/2022 13:34

I have a limited production run pair from their Made in England range,
absolutely stunning pair of boots, but came with a high price tag!.

I'm mentioning because I like the brand, but currently share price risks look
to the downside with the consumer remaining under pressure and a very large
overhang in the form of the previous PE owner.


NO crystal balls obvs, but there may be better opportunities to add.

[matrixtrader] 24/11/2022 13:28

Peels this morning are still forecasting 24.3p for 2023 - 475 target unch / investec similar with 500p target down from 550p

[disc0dave45] 24/11/2022 13:11

Starting to look reasonable now, from quick calcs their H1 bottom line is down 8% on last year and their year end underlying eps last FY was 17.4p, so possibly all things being equal circa 16p could be on the cards for this FY (PE 13.8x), best case as do think H2 could be worse than last year given the macros.

[g2theary] 24/11/2022 12:48

Had to buy more at 205 :);)

[mozy123] 24/11/2022 12:47

Nibbled today.

[castleford tiger] 24/11/2022 12:45

As a result of the Placing, IngreLux S.àr.l. will hold 364,142,440 ordinary shares, representing approximately 36.4% of Dr. Martens' issued share capital.

Even after selling the last lot they still hold 36% of the company worth 720m

How did they get this away?

Who chased it higher ?

At a market cap of 1 billion it looks too much.

Further to fall in my opinion.
Tiger

my post from 25.05.22

[matrixtrader] 24/11/2022 12:30

Luxury items in general have been holding up ok but hey ho - into the back drawer! Like the rest of this years investments lol

[freedomexpress747] 24/11/2022 12:27

Not a current holder, but where you have large shareholders and the end of the calendar year lurking, no surprise there are sellers let alone a recession where Dr Martens is a luxury item.

[matrixtrader] 24/11/2022 12:25

Yea I get that - brokers all upgraded the other week saying statement should be very strong so this is extremely disappointing but too late to cut - I think!

[matrixtrader] 24/11/2022 12:17

3.2 yield - throwing off cash - pe 8 and growing high teens - why expensive - looks like over reaction to me

[essentialinvestor] 24/11/2022 12:04

Phil, looks very fully valued to me fwiw based on today's update and
even allowing for this morning's share price drop.

Margin pressure biting the bottom line.

[philanderer] 24/11/2022 10:47

FWIW

Goldman Sachs cuts Dr Martens price target to 330 (360) pence - 'buy'