JPMorgan Chase & Co. Forecasts Strong Price Appreciation for IMI (LON:IMI) Stock

Key Points

• JPMorgan Chase & Co. raised IMI's price target from GBX 2,450 to GBX 2,500, suggesting a potential upside of 16.50% from the previous close.
• Other analysts, including the Royal Bank Of Canada and Deutsche Bank, have also increased their price targets for IMI, indicating a positive outlook on the stock's performance.
• Despite these upgrades, IMI's stock was down 1.4% as of the latest trading session, opening at GBX 2,146.

IMI (LON:IMI - Get Free Report) had its target price upped by research analysts at JPMorgan Chase & Co. from GBX 2,450 ($32.95) to GBX 2,500 ($33.62) in a report released on Monday, MarketBeat.com reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 12.09% from the company's previous close.

Several other research analysts have also weighed in on the company. Royal Bank Of Canada lifted their price objective on IMI from GBX 2,300 ($30.93) to GBX 2,475 ($33.28) and gave the stock an "outperform" rating in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of IMI from GBX 2,250 ($30.26) to GBX 2,625 ($35.30) and gave the stock a "buy" rating in a report on Friday, August 1st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of GBX 2,516.67 ($33.84).

IMI Stock Up 0.3%

Shares of IMI stock traded up GBX 6.26 ($0.08) during trading on Monday, reaching GBX 2,230.26 ($29.99). The stock had a trading volume of 679,857 shares, compared to its average volume of 1,273,366. The company has a market capitalization of £5.65 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 1.12 and a beta of 1.08. The stock has a fifty day moving average price of GBX 2,109.04 and a two-hundred day moving average price of GBX 1,963.40. IMI has a 52 week low of GBX 1,555.96 ($20.92) and a 52 week high of GBX 2,272 ($30.55). The company has a current ratio of 1.36, a quick ratio of 0.80 and a debt-to-equity ratio of 68.33.

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

Insider Buying and Selling

In other IMI news, insider Jackie Callaway acquired 1,046 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were purchased at an average cost of GBX 1,971 ($26.51) per share, for a total transaction of £20,616.66 ($27,725.47). In the last 90 days, insiders have bought 1,087 shares of company stock valued at $2,144,228. 1.52% of the stock is 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.