Intertek Group plc (OTCMKTS:IKTSY – Get Rating) saw a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 600 shares, a drop of 75.0% from the October 31st total of 2,400 shares. Based on an average daily volume of 42,800 shares, the days-to-cover ratio is currently 0.0 days.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on IKTSY shares. Credit Suisse Group reiterated an “outperform” rating on shares of Intertek Group in a report on Monday, November 14th. Stifel Nicolaus downgraded shares of Intertek Group from a “hold” rating to a “sell” rating in a report on Friday, November 18th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Intertek Group from GBX 4,900 ($58.62) to GBX 4,700 ($56.23) in a report on Monday, October 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intertek Group presently has an average rating of “Hold” and an average target price of $5,672.00.
Intertek Group Price Performance
OTCMKTS:IKTSY traded down $0.43 during mid-day trading on Monday, hitting $48.22. 8,496 shares of the stock traded hands, compared to its average volume of 23,789. The business’s 50-day moving average price is $43.89 and its 200 day moving average price is $49.45. Intertek Group has a 12-month low of $39.79 and a 12-month high of $79.60.
Intertek Group Cuts Dividend
The firm also recently announced a dividend, which was paid on Friday, October 21st. Investors of record on Friday, September 16th were issued a dividend of $0.3675 per share. The ex-dividend date was Thursday, September 15th. This represents a dividend yield of 2.51%.
About Intertek Group
Intertek Group plc provides quality assurance solutions to various industries in the United Kingdom, the United States, and internationally. It operates in three segments: Products, Trade, and Resources. The Products segment offers assurance, testing, inspection, and certification services (ATIC), including laboratory safety, quality and performance testing, second-party supplier auditing, sustainability analysis, products assurance, vendor compliance, process performance analysis, facility plant and equipment verification, and third party certification.