Intertek Group (LON:ITRK) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Intertek Group plc (LON:ITRK) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 4,574.56 and traded as high as GBX 5,645. Intertek Group shares last traded at GBX 5,555, with a volume of 2,023,959 shares.

Wall Street Analysts Forecast Growth

ITRK has been the subject of several analyst reports. Jefferies Financial Group reissued a “buy” rating and set a GBX 6,000 target price on shares of Intertek Group in a research note on Wednesday, May 13th. Citigroup lowered their target price on 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 5,030 target price on shares of Intertek Group in a research note on Thursday, April 16th. Finally, Royal Bank Of Canada raised Intertek Group to an “outperform” rating and boosted their target price for the stock from GBX 4,475 to GBX 5,850 in a research note on Tuesday, May 5th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 5,466.17.

Intertek Group Price Performance

The stock has a market capitalization of £8.53 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 1.99 and a beta of 0.97. The company has a debt-to-equity ratio of 152.20, a quick ratio of 1.19 and a current ratio of 1.08. The company has a 50 day moving average of GBX 4,930.99 and a 200 day moving average of GBX 4,574.56.

Insider Buying and Selling

In other Intertek Group news, insider Kawal Preet acquired 160 shares of the stock in a transaction dated Monday, March 16th. The stock was acquired at an average cost of GBX 3,710 per share, with a total value of £5,936. 1.22% 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.