Intertek Executes Share Buyback as Part of £350 Million Programme

Intertek ( (GB:ITRK) ) has shared an update.

Intertek Group PLC has executed a share buyback, purchasing 110,227 ordinary shares at prices ranging from 4,756.0000 to 4,798.0000 pence per share, as part of its ongoing £350 million Share Buyback Programme. This transaction, which aligns with shareholder authority, results in the cancellation of the purchased shares, maintaining the total voting rights at 158,972,043, potentially impacting shareholder interests and the company’s market position.

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 receives a strong overall stock score driven primarily by its robust financial performance and positive earnings call results. The strategic share buyback and expansion into new markets further enhance its potential for growth. While the technical indicators and valuation suggest a balanced position, they indicate room for improvement compared to industry benchmarks.

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

More about Intertek

Intertek Group PLC operates in the testing, inspection, and certification industry, providing quality assurance services to various sectors including consumer goods, healthcare, and industrial markets. The company focuses on ensuring the safety and performance of products and processes, helping businesses meet regulatory standards and improve their market competitiveness.

Average Trading Volume: 638,581

Technical Sentiment Signal: Buy

Current Market Cap: £7.59B

For an in-depth examination of ITRK stock, go to TipRanks’ Stock Analysis page.