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

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

Wall Street Analysts Forecast Growth

ITRK has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 5,030 target price on shares of Intertek Group in a research report on Thursday, April 16th. Royal Bank Of Canada raised shares of Intertek Group to an “outperform” rating and lifted their price objective for the company from GBX 4,475 to GBX 5,850 in a report on Tuesday, May 5th. Citigroup cut their price objective on shares of Intertek Group from GBX 5,847 to GBX 5,717 and set a “buy” rating for the company in a report on Thursday, March 5th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 6,000 price objective on shares of Intertek Group in a report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 5,466.17.

Intertek Group Stock Up 1.5%

The company has a debt-to-equity ratio of 152.20, a current ratio of 1.08 and a quick ratio of 1.19. The business’s fifty day simple moving average is GBX 4,930.99 and its two-hundred day simple moving average is GBX 4,574.56. The company has a market cap of £8.65 billion, a PE ratio of 26.10, a PEG ratio of 1.99 and a beta of 0.97.

Insider Activity at Intertek Group

In related news, insider Kawal Preet bought 160 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was acquired at an average price of GBX 3,710 per share, with a total value of £5,936. 1.22% of the stock is owned by corporate insiders.

Intertek Group Company Profile

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.