IMI (LON:IMI) Stock Price Expected to Rise, Berenberg Bank Analyst Says

Key Points

• Berenberg Bank has increased its price target for IMI from GBX 2,300 to GBX 2,550, indicating a potential upside of 14.86% from the current stock price.
• Multiple analysts, including those from Peel Hunt and Deutsche Bank, have issued "buy" ratings and raised their price targets, with an average price target of GBX 2,516.67 for IMI.
• The company reported a quarterly earnings per share (EPS) of GBX 56.10 and has a net margin of 11.46% with a return on equity of 23.85%.

IMI (LON:IMI - Free Report) had its price objective lifted by Berenberg Bank from GBX 2,300 ($30.92) to GBX 2,550 ($34.28) in a research report report published on Wednesday morning, MarketBeat.com reports. Berenberg Bank currently has a buy rating on the stock.

IMI has been the subject of several other reports. Deutsche Bank Aktiengesellschaft raised their target price on IMI from GBX 2,250 ($30.25) to GBX 2,625 ($35.29) and gave the company a "buy" rating in a research note on Friday, August 1st. Peel Hunt restated a "buy" rating and set a GBX 2,450 ($32.94) target price on shares of IMI in a research note on Friday, August 1st. JPMorgan Chase & Co. raised their target price on IMI from GBX 2,450 ($32.94) to GBX 2,500 ($33.61) and gave the company an "overweight" rating in a research note on Monday, August 4th. Jefferies Financial Group raised their target price on IMI from GBX 2,490 ($33.48) to GBX 2,500 ($33.61) and gave the company a "buy" rating in a research note on Thursday. Finally, Royal Bank Of Canada raised their target price on IMI from GBX 2,300 ($30.92) to GBX 2,475 ($33.28) and gave the company an "outperform" rating in a research note on Friday, August 1st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of GBX 2,516.67 ($33.84).

IMI Trading Up 1.7%

Shares of IMI traded up GBX 38.16 ($0.51) during trading hours on Wednesday, hitting GBX 2,268.42 ($30.50). The stock had a trading volume of 1,422,905 shares, compared to its average volume of 1,274,337. 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 cap of £5.75 billion, a P/E ratio of 23.24, a P/E/G ratio of 1.12 and a beta of 1.08. The company's fifty day simple moving average is GBX 2,113.89 and its 200 day simple moving average is GBX 1,965.19. IMI has a 12-month low of GBX 1,555.96 ($20.92) and a 12-month high of GBX 2,290 ($30.79).

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

Insider Buying and Selling at IMI

In related news, insider Jackie Callaway purchased 1,046 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were acquired at an average cost of GBX 1,971 ($26.50) per share, for a total transaction of £20,616.66 ($27,718.02). In the last 90 days, insiders purchased 1,087 shares of company stock worth $2,144,228. 1.52% of the stock is currently owned by corporate insiders.

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.