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Intertek ( (GB:ITRK) ) has issued an update.
Intertek Group plc, a company involved in quality assurance services, has announced the purchase of 9,850 of its own ordinary shares at a price of 4,686 pence each as part of its ongoing Share Buyback Programme. This transaction is part of a larger initiative to repurchase up to £350 million of ordinary shares, with the company having already acquired 4,786,417 shares for a total of £225,586,545.36. The purchased shares will be cancelled, impacting the total voting rights and share count, which now stands at 156,606,710 ordinary shares in issue.
The most recent analyst rating on (GB:ITRK) stock is a Hold with a £51.00 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 and positive earnings call are the most significant factors driving the score. The company’s strategic initiatives, including share buybacks and new product launches, further enhance its market position. However, mixed technical indicators and moderate reliance on debt slightly temper the overall score.
To see Spark’s full report on GB:ITRK stock, click here.
More about Intertek
Average Trading Volume: 444,651
Technical Sentiment Signal: Strong Buy
Current Market Cap: £7.34B
See more data about ITRK stock on TipRanks’ Stock Analysis page.