Intertek Group (LON:ITRK) Upgraded by Redburn Partners to “Buy”

Redburn Partners upgraded shares of Intertek Group (LON:ITRK) to a buy rating in a report released on Friday morning, Marketbeat reports. The brokerage currently has GBX 6,000 ($74.69) price objective on the stock.

Several other equities research analysts also recently weighed in on the stock. Shore Capital reaffirmed a hold rating on shares of Intertek Group in a report on Thursday, December 21st. Berenberg Bank boosted their price objective on Intertek Group from GBX 4,900 ($61.00) to GBX 5,400 ($67.22) and gave the stock a buy rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of GBX 4,959.17 ($61.73).

Intertek Group Stock Performance

ITRK stock opened at GBX 4,906 ($61.07) on Friday. The company has a market capitalization of £7.92 billion, a P/E ratio of 2,680.87, a PEG ratio of 2.10 and a beta of 0.64. The company has a 50-day simple moving average of GBX 4,783.06 and a 200 day simple moving average of GBX 4,351.68. Intertek Group has a fifty-two week low of GBX 3,746 ($46.63) and a fifty-two week high of GBX 5,068 ($63.09). The company has a quick ratio of 1.19, a current ratio of 1.09 and a debt-to-equity ratio of 89.53.

Intertek Group Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, June 21st. Stockholders of record on Thursday, May 30th will be issued a GBX 74 ($0.92) dividend. This is an increase from Intertek Group’s previous dividend of $37.70. The ex-dividend date of this dividend is Thursday, May 30th. This represents a dividend yield of 1.6%. Intertek Group’s dividend payout ratio is currently 6,120.22%.

Insider Activity

In other news, insider Jeremy (Jez) Maiden purchased 114 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was acquired at an average price of GBX 5,032 ($62.64) per share, with a total value of £5,736.48 ($7,141.14). 0.54% of the stock is owned by corporate insiders.

Intertek Group Company Profile

Intertek Group plc engages in the provision of quality assurance solutions to various industries in the United Kingdom, the United States, China, Australia, and internationally. The company operates in five segments: Consumer Products, Corporate Assurance, Health and Safety, Industry and Infrastructure, and World of Energy.