Intertek Executes Share Buyback as Part of £350 Million Programme

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

Intertek Group PLC has executed a share buyback, purchasing 38,816 ordinary shares at an average price of 4,727.8616 pence per share as part of its ongoing £350 million Share Buyback Programme. This transaction, conducted through J.P. Morgan Securities plc, aligns with shareholder authority and will result in the cancellation of the purchased shares, impacting the company’s total voting rights and potentially influencing shareholder value.

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 strategic initiatives such as the share buyback program significantly contribute to its high overall stock score. While technical analysis and valuation provide a balanced outlook, challenges in specific segments are being managed effectively. The company’s positive earnings call and strong corporate events further reinforce confidence in its future growth prospects.

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

More about Intertek

Intertek Group PLC operates in the quality assurance industry, providing a range of services including testing, inspection, and certification to various sectors globally. The company focuses on ensuring product quality and safety, helping businesses meet regulatory standards and improve performance.

Average Trading Volume: 662,043

Technical Sentiment Signal: Buy

Current Market Cap: £7.5B

Learn more about ITRK stock on TipRanks’ Stock Analysis page.