IMI (LON:IMI) Price Target Cut to GBX 1,750 by Analysts at Barclays

IMI (LON:IMIGet Rating) had its price objective reduced by investment analysts at Barclays from GBX 2,070 ($25.86) to GBX 1,750 ($21.86) in a report issued on Monday, Marketbeat.com reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 38.12% from the company’s current price.

Several other brokerages have also issued reports on IMI. JPMorgan Chase & Co. dropped their price target on IMI from GBX 2,050 ($25.61) to GBX 2,000 ($24.98) and set an “overweight” rating for the company in a research note on Friday. Morgan Stanley reiterated an “overweight” rating on shares of IMI in a research report on Wednesday, February 9th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a GBX 2,000 ($24.98) price objective on shares of IMI in a report on Wednesday, April 13th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 1,648.50 ($20.59).

LON IMI opened at GBX 1,267 ($15.83) on Monday. IMI has a 52-week low of GBX 1,150.09 ($14.37) and a 52-week high of GBX 1,878 ($23.46). The company has a fifty day moving average of GBX 1,357.45 and a 200-day moving average of GBX 1,574.81. The company has a market capitalization of £3.30 billion and a P/E ratio of 17.36. The company has a debt-to-equity ratio of 92.08, a quick ratio of 0.68 and a current ratio of 1.20.

In other IMI news, insider Caroline Dowling bought 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 1st. The shares were bought at an average cost of GBX 1,433 ($17.90) per share, with a total value of £18,629 ($23,271.71). Also, insider Daniel Shook sold 36,413 shares of the company’s stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of GBX 1,482 ($18.51), for a total value of £539,640.66 ($674,129.49). Over the last ninety days, insiders purchased 1,330 shares of company stock worth $1,904,768.

IMI Company Profile (Get Rating)

IMI plc, a specialist engineering company, designs, manufactures, and services engineered products worldwide. The company operates through three divisions: IMI Precision Engineering, IMI Critical Engineering, and IMI Hydronic Engineering. The IMI Precision Engineering division develops motion and fluid control technologies for industrial automation, commercial vehicle, life sciences, energy, and rail applications.

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Analyst Recommendations for IMI (LON:IMI)

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