DCC (LON:DCC) to Buyback 0 Stock

DCC (LON:DCC) announced that its Board of Directors has initiated a share buyback program on Tuesday, May 27th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reduced their price target on DCC from GBX 5,400 ($72.97) to GBX 5,200 ($70.27) and set an “outperform” rating for the company in a research report on Monday, May 19th.

DCC Stock Up 1.8%

Shares of DCC stock opened at GBX 4,608 ($62.27) on Wednesday. DCC has a 12 month low of GBX 4,452 ($60.16) and a 12 month high of GBX 5,865 ($79.26). The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 77.99. The firm has a market cap of £4.56 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 4.37 and a beta of 0.74. The stock has a 50 day moving average of GBX 4,884.81 and a 200-day moving average of GBX 5,185.86.

Insider Transactions at DCC

In other news, insider Donal Murphy sold 8,150 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of GBX 4,541 ($61.36), for a total transaction of £370,091.50 ($500,123.65). Also, insider Kevin Lucey sold 1,850 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of GBX 4,541 ($61.36), for a total value of £84,008.50 ($113,525.00). 0.23% of the stock is currently owned by corporate 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.