Intertek Group (LON:ITRK) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Intertek Group plc (LON:ITRK) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 4,810.22 ($64.25) and traded as high as GBX 4,942 ($66.01). Intertek Group shares last traded at GBX 4,942 ($66.01), with a volume of 275,469 shares trading hands.

Wall Street Analyst Weigh In

ITRK has been the subject of several research reports. Berenberg Bank lifted their price objective on shares of Intertek Group from GBX 5,800 ($77.47) to GBX 6,000 ($80.14) and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Shore Capital upgraded shares of Intertek Group to a “hold” rating in a research note on Tuesday, April 8th.

Intertek Group Stock Down 0.3%

The company’s 50 day moving average price is GBX 4,691.56 and its 200 day moving average price is GBX 4,810.22. The company has a quick ratio of 1.19, a current ratio of 1.27 and a debt-to-equity ratio of 103.83. The firm has a market capitalization of £7.91 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 1.99 and a beta of 0.63.

Intertek Group (LON:ITRK) last issued its earnings results on Tuesday, March 4th. The company reported GBX 242.60 ($3.24) earnings per share (EPS) for the quarter. Intertek Group had a net margin of 9.19% and a return on equity of 23.46%. As a group, research analysts forecast that Intertek Group plc will post 263.7305699 earnings per share for the current fiscal year.

Intertek Group Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be issued a dividend of GBX 102.60 ($1.37) per share. This represents a dividend yield of 2.11%. The ex-dividend date is Thursday, May 29th. This is a boost from Intertek Group’s previous dividend of $53.90. Intertek Group’s dividend payout ratio (DPR) is 66.71%.

Insider Buying and Selling

In other Intertek Group news, insider Robin Freestone bought 2,198 shares of Intertek Group stock in a transaction that occurred on Tuesday, April 15th. The stock was purchased at an average price of GBX 4,525 ($60.44) per share, with a total value of £99,459.50 ($132,842.93). Also, insider Andre Lacroix sold 39,498 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of GBX 4,994 ($66.70), for a total transaction of £1,972,530.12 ($2,634,606.81). 0.45% of the stock is currently 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.