Royal Bank Of Canada Forecasts Strong Price Appreciation for IMI (LON:IMI) Stock

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 - Free Report) had its price target hoisted by Royal Bank Of Canada from GBX 2,300 ($30.93) to GBX 2,475 ($33.28) in a research note published on Friday, August 1st, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently weighed in on IMI. JPMorgan Chase & Co. reissued an "overweight" rating and issued a GBX 2,450 ($32.95) target price on shares of IMI in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of IMI from GBX 2,250 ($30.26) to GBX 2,625 ($35.30) and gave the company a "buy" rating in a research note on Friday, August 1st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of GBX 2,516.67 ($33.84).

IMI Stock Performance

Shares of LON:IMI traded up GBX 6.26 ($0.08) on Friday, hitting GBX 2,230.26 ($29.99). 679,857 shares of the company were exchanged, compared to its average volume of 1,273,366. The company's 50 day moving average price is GBX 2,109.04 and its two-hundred day moving average price is GBX 1,963.40. IMI has a one year low of GBX 1,555.96 ($20.92) and a one year high of GBX 2,272 ($30.55). The company has a debt-to-equity ratio of 68.33, a quick ratio of 0.80 and a current ratio of 1.36. The firm has a market capitalization of £5.65 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 1.12 and a beta of 1.08.

IMI (LON:IMI - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported GBX 56.10 ($0.75) earnings per share for the quarter. IMI had a net margin of 11.46% and a return on equity of 23.85%. Research analysts expect that IMI will post 137.9737609 earnings per share for the current year.

Insiders Place Their Bets

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 ($26.51) per share, with a total value of £20,616.66 ($27,725.47). Insiders have bought 1,087 shares of company stock worth $2,144,228 over the last quarter. 1.52% 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.