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Intertek ( (GB:ITRK) ) just unveiled an update.
Intertek Group PLC, a company involved in quality assurance services, has executed a share buyback program, purchasing 113,450 of its ordinary shares at a volume-weighted average price of 4,651.4003 pence per share. This transaction is part of a larger initiative to repurchase up to £350 million of ordinary shares, with the company having already acquired 5,138,455 shares for £242,008,421.85. The purchased shares are intended to be canceled, affecting the total voting rights in the company, which now stand at 156,254,672.
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 high score. The company’s effective cash flow management and strategic share buyback program further enhance its attractiveness. 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: 425,910
Technical Sentiment Signal: Buy
Current Market Cap: £7.25B
For a thorough assessment of ITRK stock, go to TipRanks’ Stock Analysis page.