Intertek Group (LON:ITRK) Sets New 52-Week High – Here’s What Happened

Shares of Intertek Group plc (LON:ITRK) reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 5,160 and last traded at GBX 4,995, with a volume of 1775190 shares. The stock had previously closed at GBX 4,894.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ITRK. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 4,800 target price on shares of Intertek Group in a report on Friday, April 17th. Citigroup cut their price objective on Intertek Group from GBX 5,847 to GBX 5,717 and set a “buy” rating on the stock in a report on Thursday, March 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 5,030 price objective on shares of Intertek Group in a research note on Thursday, April 16th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Intertek Group presently has a consensus rating of “Moderate Buy” and an average price target of GBX 5,124.50.

Intertek Group Stock Performance

The company has a current ratio of 1.08, a quick ratio of 1.19 and a debt-to-equity ratio of 152.20. The firm has a market cap of £7.38 billion, a PE ratio of 22.27, a P/E/G ratio of 1.99 and a beta of 0.81. The stock’s 50 day moving average price is GBX 4,112.79 and its 200 day moving average price is GBX 4,502.05.

Intertek Group (LON:ITRK) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported GBX 255.90 earnings per share for the quarter. Intertek Group had a net margin of 10.01% and a return on equity of 31.07%. As a group, equities analysts forecast that Intertek Group plc will post 263.7305699 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeremy (Jez) Maiden bought 138 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of GBX 3,794 per share, for a total transaction of £5,235.72. Also, insider Kawal Preet purchased 160 shares of Intertek Group stock in a transaction that occurred on Monday, March 16th. The shares were bought at an average cost of GBX 3,710 per share, for a total transaction of £5,936. Over the last three months, insiders have bought 4,479 shares of company stock valued at $17,624,681. 1.18% of the stock is owned by insiders.

About Intertek Group

Intertek is a leading Total Quality Assurance provider to industries worldwide.

Our network of more than 1,000 laboratories and offices in more than 100 countries, delivers innovative and bespoke Assurance, Testing, Inspection and Certification solutions for our customers’ operations and supply chains.

Intertek is a purpose-led company to Bring Quality, Safety and Sustainability to Life. We provide 24/7 mission-critical quality assurance solutions to our clients to ensure that they can operate with well-functioning supply chains in each of their operations.

Our Customer Promise is: Intertek Total Quality Assurance expertise, delivered consistently, with precision, pace and passion, enabling our customers to power ahead safely.