IMI (LON:IMI) Share Price Passes Above 200-Day Moving Average – Should You Sell?

IMI plc (LON:IMI)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1,878.40 ($25.46) and traded as high as GBX 2,061.72 ($27.95). IMI shares last traded at GBX 2,040.64 ($27.66), with a volume of 726,970 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada increased their price objective on IMI from GBX 2,250 ($30.50) to GBX 2,400 ($32.53) and gave the company an “outperform” rating in a research note on Monday, March 3rd.

IMI Price Performance

The business has a 50 day moving average of GBX 1,839.39 and a 200 day moving average of GBX 1,878.40. The company has a market cap of £5.17 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 1.12 and a beta of 1.08. The company has a debt-to-equity ratio of 68.33, a current ratio of 1.36 and a quick ratio of 0.80.

Insider Activity at IMI

In other news, insider Jackie Callaway acquired 1,046 shares of IMI stock in a transaction on Tuesday, June 3rd. The shares were acquired at an average price of GBX 1,971 ($26.72) per share, with a total value of £20,616.66 ($27,947.21). In the last 90 days, insiders have acquired 1,074 shares of company stock valued at $2,117,162. 1.52% of the stock is owned by company insiders.

About IMI

IMI plc is a specialist engineering company operating in fluid and motion control markets. We combine our deep engineering knowledge with strong applications expertise to develop solutions for the most acute industry problems. We help our customers become safer, more sustainable and more productive. IMI employs around 10,000 people, has manufacturing facilities in 19 countries and operates a global service network.