Berenberg Bank Reiterates "Buy" Rating for DCC (LON:DCC)

Key Points

• Berenberg Bank has reaffirmed a "buy" rating for DCC, setting a target price of GBX 6,700, suggesting a potential upside of 41.53% from the current stock price.
• Other analysts have mixed opinions, with Royal Bank of Canada lowering its target to GBX 5,200, while Deutsche Bank has set a hold rating with a target price of GBX 5,500.
• DCC has authorized a share repurchase program, indicating that the company's board believes its shares are undervalued.

Berenberg Bank reiterated their buy rating on shares of DCC (LON:DCC - Free Report) in a research report released on Tuesday morning, Marketbeat.com reports. Berenberg Bank currently has a GBX 6,700 price objective on the stock.

DCC has been the topic of a number of other reports. Royal Bank Of Canada dropped their target price on DCC from GBX 5,400 to GBX 5,200 and set an "outperform" rating on the stock in a research report on Monday, May 19th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a GBX 5,500 price objective on shares of DCC in a report on Friday, July 11th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 5,800.

DCC Stock Performance

Shares of LON DCC traded down GBX 14 during trading on Tuesday, reaching GBX 4,746. 18,021,535 shares of the company traded hands, compared to its average volume of 643,710. DCC has a 12-month low of GBX 4,452 and a 12-month high of GBX 5,865. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 77.99. The stock has a market cap of £4.53 billion, a P/E ratio of 2,276.91, a PEG ratio of 4.37 and a beta of 0.74. The firm's fifty day simple moving average is GBX 4,746.47 and its 200 day simple moving average is GBX 4,858.24.

DCC declared that its Board of Directors has authorized a stock buyback program on Tuesday, May 27th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

About DCC

DCC plc is a leading international sales, marketing and support services group operating in 22 countries, supplying products and services used by millions of people every day. Headquartered in Dublin, the Group operates across three sectors: energy, healthcare and technology, employing over 16,000 people.