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

IMI plc (LON:IMI)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 2,228.58 and traded as high as GBX 2,478. IMI shares last traded at GBX 2,442, with a volume of 560,815 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IMI. JPMorgan Chase & Co. boosted their price target on IMI from GBX 2,500 to GBX 2,850 and gave the company an “overweight” rating in a research note on Tuesday, August 19th. Jefferies Financial Group lifted their target price on shares of IMI from GBX 2,490 to GBX 2,500 and gave the company a “buy” rating in a research note on Thursday, August 7th. Panmure Gordon restated a “buy” rating and set a GBX 2,760 price target on shares of IMI in a research note on Tuesday, November 25th. Berenberg Bank raised their price target on shares of IMI from GBX 2,550 to GBX 2,900 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Royal Bank Of Canada cut shares of IMI to a “sector perform” rating and upped their price objective for the stock from GBX 2,475 to GBX 2,500 in a report on Tuesday, October 14th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 2,655.

IMI Stock Performance

The company has a debt-to-equity ratio of 68.33, a current ratio of 1.36 and a quick ratio of 0.80. The firm has a fifty day simple moving average of GBX 2,363.80 and a 200 day simple moving average of GBX 2,228.58. The company has a market cap of £6.01 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 1.12 and a beta of 1.08.

Insider Activity

In other news, insider Ajai Puri bought 1,000 shares of the stock in a transaction that occurred on Thursday, September 25th. The shares were acquired at an average cost of GBX 2,235 per share, for a total transaction of £22,350. Over the last ninety days, insiders have acquired 1,038 shares of company stock worth $2,324,152. 1.10% of the stock is currently owned by corporate insiders.

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.