DCC (LON:DCC) Shares Cross Below 200 Day Moving Average - Here's What Happened

Key Points

• DCC plc shares fell below their 200-day moving average of GBX 4,848.10, trading as low as GBX 4,640.
• Analysts hold a consensus rating of "Moderate Buy" for DCC, with an average price target of GBX 5,800.
• The company has approved a share repurchase plan, indicating confidence in its stock valuation.

Shares of DCC plc (LON:DCC - Get Free Report) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 4,848.10 ($66.18) and traded as low as GBX 4,640 ($63.34). DCC shares last traded at GBX 4,710 ($64.29), with a volume of 1,991,124 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DCC. Royal Bank Of Canada dropped their target price on shares of DCC from GBX 5,400 to GBX 5,200 and set an "outperform" rating on the stock in a report on Monday, May 19th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a GBX 5,500 target price on shares of DCC in a report on Friday, July 11th. Finally, Berenberg Bank reiterated a "buy" rating and set a GBX 6,700 price objective on shares of DCC in a report on Tuesday, September 2nd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, DCC presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 5,800.

DCC Stock Down 0.8%

The firm's fifty day moving average price is GBX 4,737.29 and its two-hundred day moving average price is GBX 4,827.96. The stock has a market cap of £4.59 billion, a price-to-earnings ratio of 2,264.44, a price-to-earnings-growth ratio of 4.37 and a beta of 0.74. The company has a debt-to-equity ratio of 77.99, a current ratio of 1.31 and a quick ratio of 0.89.

DCC declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 27th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are 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.