IMI (LON:IMI) Sets New 12-Month High - Here's What Happened

Key Points

• IMI plc shares have reached a new 52-week high, trading as high as GBX 2,336 ($31.49) during the recent session.
• Several analysts have upgraded their price targets for IMI, with JPMorgan Chase now projecting a target of GBX 2,850, indicating strong market confidence.
• Insider trading activity has been noted, including a purchase of 1,000 shares by Ajai Puri, suggesting insider confidence in the company's prospects.

IMI plc (LON:IMI - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as GBX 2,336 ($31.49) and last traded at GBX 2,328 ($31.38), with a volume of 622837 shares trading hands. The stock had previously closed at GBX 2,304 ($31.06).

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Peel Hunt reaffirmed a "buy" rating and set a GBX 2,450 price objective on shares of IMI in a research report on Friday, August 1st. Royal Bank Of Canada upped their price objective on shares of IMI from GBX 2,300 to GBX 2,475 and gave the company an "outperform" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of IMI from GBX 2,500 to GBX 2,850 and gave the company an "overweight" rating in a research report on Tuesday, August 19th. Berenberg Bank increased their price target on shares of IMI from GBX 2,300 to GBX 2,550 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group increased their price target on shares of IMI from GBX 2,490 to GBX 2,500 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of GBX 2,575.

IMI Stock Up 1.1%

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 firm's 50 day simple moving average is GBX 2,260.20 and its 200-day simple moving average is GBX 2,049.38. The stock has a market capitalization of £5.74 billion, a price-to-earnings ratio of 2,497.32, a price-to-earnings-growth ratio of 1.12 and a beta of 1.08.

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

Insider Transactions at IMI

In other news, insider Ajai Puri acquired 1,000 shares of the firm's stock in a transaction dated Thursday, September 25th. The stock was bought at an average price of GBX 2,235 per share, with a total value of £22,350. Also, insider Luke Grant sold 271 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of GBX 2,301, for a total transaction of £6,235.71. In the last three months, insiders bought 1,267 shares of company stock valued at $2,841,254. Insiders own 1.10% of the company's stock.

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.

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