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Intertek ( (GB:ITRK) ) has shared an update.
Intertek Group PLC, a company involved in quality assurance services, announced the purchase of 137,412 of its ordinary shares as part of its ongoing Share Buyback Programme. This transaction, conducted through J.P. Morgan Securities plc, aligns with the authority granted by shareholders and aims to cancel the purchased shares, thus adjusting the total voting rights to 154,268,909. The buyback is part of a larger initiative to repurchase up to £350 million of ordinary shares, with 7,124,218 shares already acquired for £334,385,945.20, reflecting the company’s strategic financial management and potential impact on shareholder value.
The most recent analyst rating on (GB:ITRK) stock is a Buy with a £6810.00 price target. To see the full list of analyst forecasts on Intertek stock, see the GB:ITRK Stock Forecast page.
Spark’s Take on GB:ITRK Stock
According to Spark, TipRanks’ AI Analyst, GB:ITRK is a Outperform.
Intertek’s strong financial performance is the most significant factor contributing to its overall score, supported by consistent revenue growth and robust cash flow management. The technical analysis presents mixed signals, with positive trends tempered by potential bearish momentum. The valuation is reasonable, offering a balance between growth and income potential.
To see Spark’s full report on GB:ITRK stock, click here.
More about Intertek
Average Trading Volume: 397,284
Technical Sentiment Signal: Strong Buy
Current Market Cap: £7.5B
For an in-depth examination of ITRK stock, go to TipRanks’ Overview page.