DCC (LON:DCC) Board of Directors Approves Share Repurchase Plan

DCC (LON:DCC - Get Free Report) announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 27th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

DCC Trading Up 0.5%

Shares of LON DCC traded up GBX 22 ($0.30) during midday trading on Friday, reaching GBX 4,636 ($62.38). 1,243,957 shares of the stock were exchanged, compared to its average volume of 721,484. The business has a 50-day simple moving average of GBX 4,850.93 and a two-hundred day simple moving average of GBX 5,180.19. The company has a market capitalization of £4.59 billion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 4.37 and a beta of 0.74. DCC has a 12 month low of GBX 4,452 ($59.90) and a 12 month high of GBX 5,865 ($78.92). The company has a debt-to-equity ratio of 77.99, a current ratio of 1.31 and a quick ratio of 0.89.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada lowered their price target on shares of DCC from GBX 5,400 ($72.66) to GBX 5,200 ($69.97) and set an "outperform" rating for the company in a report on Monday, May 19th.

Insider Transactions at DCC

In other news, insider Kevin Lucey sold 1,850 shares of DCC stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of GBX 4,541 ($61.10), for a total transaction of £84,008.50 ($113,036.19). Also, insider Donal Murphy sold 8,150 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of GBX 4,541 ($61.10), for a total transaction of £370,091.50 ($497,970.26). Insiders own 0.23% of the company's stock.

DCC Company Profile

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.