DCC (LON:DCC) Announces Share Buyback Program

DCC (LON:DCC - Get Free Report) declared that its Board of Directors has initiated a stock buyback program on Tuesday, May 27th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reduced their price objective on DCC from GBX 5,400 ($72.68) to GBX 5,200 ($69.99) and set an "outperform" rating for the company in a research report on Monday, May 19th.

DCC Price Performance

DCC traded up GBX 22 ($0.30) during trading on Friday, reaching GBX 4,636 ($62.40). The stock had a trading volume of 1,243,957 shares, compared to its average volume of 721,484. The firm has a market capitalization of £4.59 billion, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 4.37 and a beta of 0.74. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 77.99. DCC has a 1-year low of GBX 4,452 ($59.92) and a 1-year high of GBX 5,865 ($78.94). The stock has a 50 day moving average of GBX 4,850.93 and a two-hundred day moving average of GBX 5,180.19.

Insiders Place Their Bets

In other news, insider Donal Murphy sold 8,150 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of GBX 4,541 ($61.12), for a total transaction of £370,091.50 ($498,104.31). Also, insider Kevin Lucey sold 1,850 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of GBX 4,541 ($61.12), for a total value of £84,008.50 ($113,066.62). 0.23% of the stock is currently owned by insiders.

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.