IMI (LON:IMI) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

IMI plc (LON:IMI)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 2,663.81 and traded as high as GBX 2,806. IMI shares last traded at GBX 2,772, with a volume of 861,285 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on IMI shares. JPMorgan Chase & Co. lowered their price target on IMI from GBX 3,100 to GBX 3,050 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 3,250 price target on shares of IMI in a report on Wednesday, May 13th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 2,772.86.

IMI Price Performance

The company has a current ratio of 1.50, a quick ratio of 0.80 and a debt-to-equity ratio of 58.04. The firm has a market cap of £6.66 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 1.12 and a beta of 1.05. The business has a 50-day moving average of GBX 2,737.82 and a two-hundred day moving average of GBX 2,663.81.

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

Insider Activity at IMI

In other IMI news, insider Jamie Pike purchased 3,508 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average cost of GBX 2,848 per share, with a total value of £99,907.84. Insiders purchased 3,540 shares of company stock worth $10,080,790 over the last three months. 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.