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

IMI plc (LON:IMI)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,514.43 and traded as high as GBX 2,750. IMI shares last traded at GBX 2,716, with a volume of 1,300,910 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on IMI shares. JPMorgan Chase & Co. upped their price target 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. Panmure Gordon reaffirmed a “buy” rating and issued a GBX 2,760 price objective on shares of IMI in a research note on Tuesday, November 25th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 2,670.71.

IMI Price Performance

The firm’s 50-day moving average price is GBX 2,765.75 and its 200-day moving average price is GBX 2,514.43. The company has a market cap of £6.69 billion, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 1.12 and a beta of 1.05. The company has a debt-to-equity ratio of 58.04, a current ratio of 1.50 and a quick ratio of 0.80.

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

Insider Buying and Selling

In related news, insider Jamie Pike acquired 3,508 shares of the business’s stock in a transaction on Friday, March 6th. The shares were bought at an average cost of GBX 2,848 per share, with a total value of £99,907.84. Insiders bought 3,540 shares of company stock valued at $10,078,876 over the last 90 days. Company insiders own 1.10% of the company’s stock.

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.