IMI (LON:IMI) Shares Pass Above 200-Day Moving Average – Here’s Why

IMI plc (LON:IMI)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,441.52 and traded as high as GBX 2,876. IMI shares last traded at GBX 2,874, with a volume of 939,686 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. 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 research note on Thursday, December 4th. Berenberg Bank raised their price objective on shares of IMI from GBX 2,550 to GBX 2,900 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Panmure Gordon restated a “buy” rating and issued a GBX 2,760 target price on shares of IMI in a report on Tuesday, November 25th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 2,670.71.

IMI Stock Performance

The company has a market cap of £7.06 billion, a PE ratio of 30.74, a PEG ratio of 1.12 and a beta of 1.08. The stock has a 50 day simple moving average of GBX 2,644.55 and a two-hundred day simple moving average of GBX 2,441.52. The company has a debt-to-equity ratio of 68.33, a current ratio of 1.36 and a quick ratio of 0.80.

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