Rotork (LON:ROR – Get Free Report) announced that its Board of Directors has authorized a share repurchase plan on Wednesday, November 19th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on ROR shares. Berenberg Bank reiterated a “buy” rating and set a GBX 395 price objective on shares of Rotork in a research note on Tuesday, August 5th. Shore Capital restated a “hold” rating on shares of Rotork in a research note on Tuesday, August 5th. Panmure Gordon increased their target price on Rotork from GBX 360 to GBX 370 and gave the stock a “buy” rating in a research report on Thursday. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 430 target price on shares of Rotork in a research note on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of GBX 391.
Read Our Latest Stock Report on ROR
Rotork Trading Down 1.0%
Insider Transactions at Rotork
In other news, insider Dorothy Thompson purchased 17,610 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was purchased at an average cost of GBX 340 per share, with a total value of £59,874. Insiders own 0.30% of the company’s stock.
About Rotork
Rotork is a market-leading global provider of mission-critical intelligent flow control solutions for oil & gas, water and wastewater, power, chemical process and industrial applications. We help customers around the world to improve efficiency, reduce emissions, minimise their environmental impact and assure safety.
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