IMI (LON:IMI) Price Target Raised to GBX 1,870 at Jefferies Financial Group

IMI (LON:IMI – Get Rating) had its price target hoisted by Jefferies Financial Group from GBX 1,765 ($21.51) to GBX 1,870 ($22.79) in a research report released on Tuesday, Marketbeat reports. Jefferies Financial Group currently has a buy rating on the stock.

A number of other equities analysts also recently commented on IMI. Barclays reaffirmed an overweight rating and set a GBX 1,750 ($21.33) price objective on shares of IMI in a report on Tuesday, November 15th. Royal Bank of Canada raised their price objective on shares of IMI from GBX 1,900 ($23.16) to GBX 2,000 ($24.38) and gave the stock an outperform rating in a report on Friday, March 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of IMI from GBX 1,655 ($20.17) to GBX 1,800 ($21.94) and gave the company an overweight rating in a report on Monday, March 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, IMI has an average rating of Buy and an average target price of GBX 1,855 ($22.61).

IMI Price Performance

LON:IMI opened at GBX 1,510 ($18.40) on Tuesday. The company has a 50-day moving average of GBX 1,503.27 and a 200-day moving average of GBX 1,342.73. The company has a market capitalization of £3.94 billion, a price-to-earnings ratio of 1,735.63, a PEG ratio of 1.12 and a beta of 1.17. IMI has a 52 week low of GBX 1,069 ($13.03) and a 52 week high of GBX 1,641 ($20.00). The company has a debt-to-equity ratio of 104.35, a quick ratio of 0.80 and a current ratio of 1.29.

IMI Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, May 12th. Investors of record on Thursday, April 6th will be issued a dividend of GBX 17.40 ($0.21) per share. This is an increase from IMI’s previous dividend of $8.30. This represents a yield of 1.1%. The ex-dividend date of this dividend is Thursday, April 6th. IMI’s dividend payout ratio (DPR) is currently 2,988.51%.

IMI Company Profile

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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.