IMI (LON:IMI) Sets New 52-Week High – Should You Buy?

Shares of IMI plc (LON:IMI) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 2,574 and last traded at GBX 2,574, with a volume of 833983 shares changing hands. The stock had previously closed at GBX 2,534.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on IMI shares. Panmure Gordon reiterated a “buy” rating and set a GBX 2,760 price target on shares of IMI in a report on Tuesday, November 25th. Royal Bank Of Canada cut IMI to a “sector perform” rating and raised their price objective for the company from GBX 2,475 to GBX 2,500 in a research report on Tuesday, October 14th. JPMorgan Chase & Co. boosted their target price on IMI from GBX 2,850 to GBX 2,960 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Finally, Berenberg Bank increased their price target on IMI from GBX 2,550 to GBX 2,900 and gave the company a “buy” rating in a research note on Thursday, November 6th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, IMI has a consensus rating of “Moderate Buy” and a consensus price target of GBX 2,670.71.

IMI Price Performance

The stock has a market capitalization of £6.50 billion, a price-to-earnings ratio of 28.27, a P/E/G ratio of 1.12 and a beta of 1.08. The company’s 50-day simple moving average is GBX 2,456.75 and its 200-day simple moving average is GBX 2,315.87. The company has a debt-to-equity ratio of 68.33, a current ratio of 1.36 and a quick ratio of 0.80.

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.