Essentra Advances Share Buyback Program with Recent Purchase

Essentra ( (GB:ESNT) ) has shared an update.

Essentra plc announced the purchase of 50,000 of its ordinary shares as part of its ongoing buyback program, initially announced in March 2023. The shares were bought at a consistent price of 103.5 GBp each and will be canceled, reducing the total number of shares in circulation to 285,551,244. This move is expected to impact the company’s shareholding structure, as it adjusts the total voting rights available to shareholders, aligning with the Financial Conduct Authority’s Disclosure and Transparency Rules.

The most recent analyst rating on (GB:ESNT) stock is a Buy with a £245.00 price target. To see the full list of analyst forecasts on Essentra stock, see the GB:ESNT Stock Forecast page.

Spark’s Take on GB:ESNT Stock

According to Spark, TipRanks’ AI Analyst, GB:ESNT is a Neutral.

Essentra’s overall stock score reflects a mixed financial performance with operational challenges and declining revenue. Technical indicators suggest a neutral to bearish trend, and the valuation appears high. However, positive corporate events, including share buybacks and insider purchases, provide a boost to the score by signaling confidence and potential for enhanced shareholder value.

To see Spark’s full report on GB:ESNT stock, click here.

More about Essentra

Essentra plc operates in the manufacturing industry, focusing on producing essential components and solutions for various sectors. The company is known for its diverse range of products, including packaging, filtration, and specialist components, serving a global market with a focus on innovation and quality.

Average Trading Volume: 821,784

Technical Sentiment Signal: Sell

Current Market Cap: £297M

For detailed information about ESNT stock, go to TipRanks’ Stock Analysis page.