Intertek Group (LON:ITRK) Hits New 52-Week High – Time to Buy?

Intertek Group plc (LON:ITRK) shares hit a new 52-week high on Friday . The stock traded as high as GBX 5,745 and last traded at GBX 5,705.15, with a volume of 2145820 shares trading hands. The stock had previously closed at GBX 5,555.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ITRK. Citigroup lowered their target price on shares of Intertek Group from GBX 5,847 to GBX 5,717 and set a “buy” rating for the company in a research note on Thursday, March 5th. Jefferies Financial Group restated a “buy” rating and issued a GBX 6,000 target price on shares of Intertek Group in a research note on Wednesday, May 13th. Royal Bank Of Canada upgraded shares of Intertek Group to an “outperform” rating and raised their target price for the company from GBX 4,475 to GBX 5,850 in a research note on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a GBX 5,030 price objective on shares of Intertek Group in a research note on Thursday, April 16th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 5,466.17.

Intertek Group Stock Up 1.5%

The firm has a market capitalization of £8.65 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 1.99 and a beta of 0.97. The company’s 50 day moving average price is GBX 4,930.99 and its 200 day moving average price is GBX 4,574.56. The company has a quick ratio of 1.19, a current ratio of 1.08 and a debt-to-equity ratio of 152.20.

Insider Transactions at Intertek Group

In other Intertek Group news, insider Kawal Preet bought 160 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was bought at an average cost of GBX 3,710 per share, for a total transaction of £5,936. 1.22% of the stock is owned by corporate 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.