IMI (LON:IMI) Reaches New 52-Week High After Analyst Upgrade

IMI plc (LON:IMI)’s share price reached a new 52-week high during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from GBX 2,500 to GBX 2,850. JPMorgan Chase & Co. currently has an overweight rating on the stock. IMI traded as high as GBX 2,318 ($31.27) and last traded at GBX 2,318 ($31.27), with a volume of 3649951 shares trading hands. The stock had previously closed at GBX 2,250 ($30.36).

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group upped their target price on shares of IMI from GBX 2,490 to GBX 2,500 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of IMI from GBX 2,250 to GBX 2,625 and gave the stock a “buy” rating in a research note on Friday, August 1st. Royal Bank Of Canada upped their target price on shares of IMI from GBX 2,300 to GBX 2,475 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Berenberg Bank upped their target price on shares of IMI from GBX 2,300 to GBX 2,550 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Finally, Peel Hunt reaffirmed a “buy” rating and set a GBX 2,450 target price on shares of IMI in a research note on Friday, August 1st. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 2,575.

Insider Activity at IMI

In other news, insider Jackie Callaway acquired 1,046 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were bought at an average cost of GBX 1,971 per share, with a total value of £20,616.66. Over the last quarter, insiders have purchased 1,087 shares of company stock valued at $2,149,212. Corporate insiders own 1.52% of the company’s stock.

IMI Stock Performance

The firm’s fifty day moving average price is GBX 2,152.86 and its 200-day moving average price is GBX 1,979.95. The company has a current ratio of 1.36, a quick ratio of 0.80 and a debt-to-equity ratio of 68.33. The firm has a market cap of £5.87 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.12 and a beta of 1.08.

IMI (LON:IMI) last issued its earnings results on Friday, August 1st. The company reported GBX 56.10 earnings per share (EPS) for the quarter. IMI had a net margin of 11.46% and a return on equity of 23.85%. Analysts expect that IMI plc will post 137.9737609 earnings per share for the current year.

IMI Company Profile

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.