IMI (LON:IMI) Sets New 52-Week High After Analyst Upgrade

Key Points

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IMI plc (LON:IMI - Get Free Report) reached a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from GBX 2,500 to GBX 2,850. JPMorgan Chase & Co. currently has an overweight rating on the stock. IMI traded as high as GBX 2,318 ($31.35) and last traded at GBX 2,318 ($31.35), with a volume of 3649951 shares. The stock had previously closed at GBX 2,250 ($30.43).

Other equities analysts have also issued reports about the company. Berenberg Bank upped their target price on IMI from GBX 2,300 to GBX 2,550 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft upped their target price on IMI from GBX 2,250 to GBX 2,625 and gave the company a "buy" rating in a research note on Friday, August 1st. Royal Bank Of Canada upped their target price on IMI from GBX 2,300 to GBX 2,475 and gave the company an "outperform" rating in a research note on Friday, August 1st. Peel Hunt reiterated a "buy" rating and issued a GBX 2,450 target price on shares of IMI in a research note on Friday, August 1st. Finally, Jefferies Financial Group boosted their price target on IMI from GBX 2,490 to GBX 2,500 and gave the company a "buy" rating in a research report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of GBX 2,575.

Insider Activity

In related news, insider Jackie Callaway bought 1,046 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was bought at an average price of GBX 1,971 per share, with a total value of £20,616.66. Also, insider Luke Grant sold 271 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of GBX 2,301, for a total value of £6,235.71. Insiders bought 1,087 shares of company stock valued at $2,149,212 in the last ninety days. Company insiders own 1.52% of the company's stock.

IMI Price Performance

The company has a 50-day moving average price of GBX 2,169.18 and a two-hundred day moving average price of GBX 1,987.36. 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 company has a market cap of £5.91 billion, a PE ratio of 23.88, a P/E/G ratio of 1.12 and a beta of 1.08.

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

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.