DCC (LON:DCC) Stock Price Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• DCC plc's share price has fallen below its 200-day moving average of GBX 4,823.88, indicating potential weakness in the stock performance.
• Equities research firms have varying opinions on DCC, with Deutsche Bank maintaining a "hold" rating and a target price of GBX 5,500, while Berenberg Bank has a "buy" rating with a higher target of GBX 6,700.
• The company has authorized a share repurchase program, suggesting the board believes its shares are undervalued as they plan to buy back stock through open market transactions.

DCC plc (LON:DCC - Get Free Report) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 4,823.88 ($64.99) and traded as low as GBX 4,770 ($64.27). DCC shares last traded at GBX 4,818.88 ($64.93), with a volume of 197,224 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DCC. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a GBX 5,500 target price on shares of DCC in a research report on Friday, July 11th. Berenberg Bank reiterated a "buy" rating and issued a GBX 6,700 target price on shares of DCC in a research report on Tuesday, September 2nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 5,800.

DCC Stock Performance

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 company's 50-day moving average price is GBX 4,738.68 and its two-hundred day moving average price is GBX 4,817.79. The company has a market cap of £4.62 billion, a P/E ratio of 2,280.75, a price-to-earnings-growth ratio of 4.37 and a beta of 0.74.

DCC declared that its Board of Directors has approved a stock repurchase program on Tuesday, May 27th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually 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.