IMI (LON:IMI) Share Price Crosses Above 200 Day Moving Average – What’s Next?

IMI plc (LON:IMI) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,737.32 and traded as high as GBX 2,968. IMI shares last traded at GBX 2,964, with a volume of 50,879,148 shares.

Analysts Set New Price Targets

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

IMI Stock Up 1.6%

The stock’s fifty day moving average is GBX 2,833.34 and its 200 day moving average is GBX 2,737.32. 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 company has a market capitalization of £7.06 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 1.12 and a beta of 1.04.

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.