IMI (LON:IMI) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of IMI plc (LON:IMI) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,589.52 and traded as high as GBX 2,918. IMI shares last traded at GBX 2,860, with a volume of 1,183,993 shares changing hands.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut their price objective on IMI from GBX 3,330 to GBX 3,100 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, IMI has a consensus rating of “Moderate Buy” and an average price target of GBX 2,690.71.

IMI Stock Performance

The company has a 50-day moving average price of GBX 2,752.67 and a 200-day moving average price of GBX 2,589.52. The firm has a market capitalization of £6.94 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.12 and a beta of 1.07. The company has a debt-to-equity ratio of 58.04, a quick ratio of 0.80 and a current ratio of 1.50.

IMI (LON:IMI) last released its quarterly earnings data on Friday, March 6th. The company reported GBX 132.30 earnings per share for the quarter. IMI had a net margin of 14.33% and a return on equity of 24.91%. As a group, research analysts forecast that IMI plc will post 137.9737609 EPS for the current fiscal year.

Insider Activity at IMI

In other IMI news, insider Jamie Pike bought 3,508 shares of IMI stock in a transaction dated Friday, March 6th. The stock was acquired at an average cost of GBX 2,848 per share, with a total value of £99,907.84. Insiders have bought 3,540 shares of company stock valued at $10,081,538 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

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. The Company is listed on the London Stock Exchange and is a constituent of the FTSE4Good Index.