Intertek Advances Share Buyback Programme with Recent Purchase

Intertek ( (GB:ITRK) ) just unveiled an update.

Intertek Group PLC, a company engaged in quality assurance services, announced the purchase of 167,735 of its ordinary shares as part of its ongoing Share Buyback Programme. This transaction, conducted through J.P. Morgan Securities plc, is part of a larger initiative to repurchase up to £350 million of shares, with the company having already acquired 1,791,391 shares for a total of £83,241,614.51. The purchased shares will be canceled, affecting the total voting rights and share count, which now stands at 159,601,736 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 overall stock score is driven primarily by its strong financial performance and positive earnings call insights. The company’s strategic initiatives, including share buybacks and acquisitions, position it well for future growth. While valuation metrics are fair, they are balanced by robust corporate actions and technical trends.

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

More about Intertek

Average Trading Volume: 619,816

Technical Sentiment Signal: Strong Buy

Current Market Cap: £7.9B

For a thorough assessment of ITRK stock, go to TipRanks’ Stock Analysis page.