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The latest update is out from Intertek ( (GB:ITRK) ).
Intertek Group PLC, a company involved in testing, inspection, and certification, has executed a share buyback program, purchasing 81,669 of its ordinary shares at prices ranging from 4,818 to 4,850 pence per share. This transaction is part of a broader initiative to repurchase up to £350 million in shares, with the company having already acquired 4,188,004 shares for a total of £197,784,977.13. The purchased shares will be canceled, affecting the total voting rights and share count, which now stands at 157,205,123 shares. This move is likely to impact shareholder value and market perception, aligning with strategic financial management goals.
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 corporate strategies are the most significant strengths, supported by favorable earnings call sentiments and robust technical indicators. The company’s valuation is reasonable, with a solid dividend yield enhancing its attractiveness.
To see Spark’s full report on GB:ITRK stock, click here.
More about Intertek
Average Trading Volume: 478,975
Technical Sentiment Signal: Strong Buy
Current Market Cap: £7.67B
For an in-depth examination of ITRK stock, go to TipRanks’ Overview page.