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

Intertek Group plc (LON:ITRK) shares hit a new 52-week high on Wednesday . The company traded as high as GBX 5,820 and last traded at GBX 5,815, with a volume of 12677633 shares changing hands. The stock had previously closed at GBX 5,810.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ITRK. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 5,030 target price on shares of Intertek Group in a research note on Thursday, April 16th. Royal Bank Of Canada upgraded Intertek Group to an “outperform” rating and boosted their price target for the company from GBX 4,475 to GBX 5,850 in a research note on Tuesday, May 5th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 6,000 price objective on shares of Intertek Group in a report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Intertek Group currently has an average rating of “Moderate Buy” and an average price target of GBX 5,466.17.

Intertek Group Stock Performance

The firm has a market cap of £8.93 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 1.99 and a beta of 0.97. The company has a fifty day moving average price of GBX 5,579.95 and a 200-day moving average price of GBX 4,768.81. The company has a current ratio of 1.08, a quick ratio of 1.19 and a debt-to-equity ratio of 152.20.

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.