Intertek Group (LON:ITRK) Sets New 12-Month Low - Should You Sell?

Intertek Group plc (LON:ITRK) has recently hit a new 52-week low in its share price during trading on Wednesday. The stock dipped as low as GBX 48.72 ($0.63) and was last seen trading at GBX 4,852 ($63.08), with a total of 2,645,912 shares exchanged. The previous closing price for the stock was GBX 4,866 ($63.26).

Wall Street Analysts Forecast Growth

Several analysts have shared their insights regarding Intertek Group. Berenberg Bank increased their price target from GBX 5,800 ($75.40) to GBX 6,000 ($78.00) while maintaining a "buy" rating as of March 5th. Similarly, JPMorgan Chase & Co. raised their target from GBX 5,400 ($70.20) to GBX 5,500 ($71.50), also from an "overweight" perspective on December 5th. On the other hand, Shore Capital has reiterated a "sell" rating as of March 11th. Overall, the stock has one sell rating against four buy ratings. According to MarketBeat, the average rating for the stock is currently "Moderate Buy" with an average price target of GBX 5,675 ($73.78).

Intertek Group Stock Up 0.5%

Currently, Intertek Group's 50-day moving average stands at GBX 5,074.33, while the 200-day moving average is GBX 4,909.29. The company holds a debt-to-equity ratio of 103.83, a quick ratio of 1.19, and a current ratio of 1.27. With a market capitalization of £7.85 billion, the stock has a price-to-earnings (P/E) ratio of 25.48 and a price-to-earnings growth (PEG) ratio of 1.99. The beta of the stock is 0.63, indicating it is less volatile compared to the market.

Intertek Group Increases Dividend

In recent news, Intertek Group has announced an increase in its dividend, which is scheduled to be paid on Friday, June 20th. Shareholders on record as of Thursday, May 29th, will receive a dividend payment of GBX 102.60 ($1.33). The ex-dividend date will also be on May 29th, representing a yield of 2.11%, which is an increase from the previous dividend of $53.90. The company holds a dividend payout ratio of 66.71%.

Insider Buying and Selling at Intertek Group

In other relevant updates, insider Steven L. Mogford acquired 121 shares of Intertek Group’s stock on March 13th at an average price of GBX 4,892 ($63.60), translating to a total investment of £5,919.32 ($7,695.42). Conversely, insider Andre Lacroix sold 39,498 shares on March 11th at an average price of GBX 4,994 ($64.92), amounting to a sale of £1,972,530.12 ($2,564,391.73). It’s worth noting that insiders hold approximately 0.45% of the company’s total shares.

Intertek Group Company Profile

Intertek is recognized as a leading Total Quality Assurance provider catering to diverse industries around the globe. With over 1,000 laboratories and offices in more than 100 countries, Intertek delivers tailored Assurance, Testing, Inspection, and Certification solutions to enhance customer operations and supply chains. The company closely adheres to its purpose of promoting quality, safety, and sustainability.

Should You Invest $1,000 in Intertek Group Right Now?

Before making investment decisions in Intertek Group, investors might want to reassess. MarketBeat highlights that while analysts hold a "Moderate Buy" rating on the stock, there are five other stocks that are being recommended for purchase at present. This prompts potential investors to consider these alternatives more seriously.

Intertek, Stocks, Dividend