IMI (LON:IMI) Given New GBX 2,475 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised its price target for IMI from GBX 2,300 to GBX 2,475, implying a potential upside of 14.69%.
• Other analysts, including JPMorgan Chase & Co. and Deutsche Bank, have also issued favorable ratings and price targets for IMI, reinforcing its positive outlook in the market.
• Despite this optimism, IMI's stock was down 0.8% to GBX 2,158 as of the last trading session, below its recent high of GBX 2,272.

IMI (LON:IMI - Get Free Report) had its price target upped by analysts at Royal Bank Of Canada from GBX 2,300 ($30.54) to GBX 2,475 ($32.86) in a research note issued to investors on Friday,Digital Look reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target indicates a potential upside of 14.69% from the company's current price.

A number of other research analysts have also commented on the company. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a GBX 2,450 ($32.53) price objective on shares of IMI in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on IMI from GBX 2,250 ($29.88) to GBX 2,625 ($34.86) and gave the company a "buy" rating in a report on Friday.

IMI Stock Down 0.8%

IMI opened at GBX 2,158 ($28.65) on Friday. IMI has a 1-year low of GBX 1,555.96 ($20.66) and a 1-year high of GBX 2,272 ($30.17). The stock's fifty day simple moving average is GBX 2,089.71 and its 200 day simple moving average is GBX 1,956.78. The company has a current ratio of 1.36, a quick ratio of 0.80 and a debt-to-equity ratio of 68.33. The stock has a market cap of £5.47 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.12 and a beta of 1.08.

IMI (LON:IMI - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported GBX 56.10 ($0.74) earnings per share for the quarter. IMI had a return on equity of 23.85% and a net margin of 11.46%. As a group, research analysts expect that IMI will post 137.9737609 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jackie Callaway acquired 1,046 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were purchased at an average cost of GBX 1,971 ($26.17) per share, with a total value of £20,616.66 ($27,375.73). Over the last quarter, insiders acquired 1,087 shares of company stock valued at $2,144,228. Corporate insiders own 1.52% of the company's stock.

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.

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