IMI (LON:IMI) Hits New 1-Year High - Here's Why

Key Points

• IMI plc's shares reached a new 52-week high of GBX 2,232 ($29.99) as of Monday, indicating strong market performance with a trading volume of 130,180 shares.
• JPMorgan Chase & Co. maintained an "overweight" rating for IMI and set a price target of GBX 2,450 ($32.92), suggesting potential for further growth.
• Insider Jackie Callaway purchased shares at GBX 1,971 ($26.48), indicating confidence in the company's future as insiders bought 1,087 shares totaling over $2 million in the last 90 days.

IMI plc (LON:IMI - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 2,232 ($29.59) and last traded at GBX 2,218 ($29.41), with a volume of 130180 shares traded. The stock had previously closed at GBX 2,202 ($29.20).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reissued an "overweight" rating and issued a GBX 2,450 ($32.48) target price on shares of IMI in a report on Wednesday, July 2nd.

IMI Price Performance

The stock has a fifty day moving average of GBX 2,079.01 and a two-hundred day moving average of GBX 1,950.28. The stock has a market capitalization of £5.63 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 1.12 and a beta of 1.08. The company has a current ratio of 1.36, a quick ratio of 0.80 and a debt-to-equity ratio of 68.33.

Insiders Place Their Bets

In other news, insider Jackie Callaway bought 1,046 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was bought at an average cost of GBX 1,971 ($26.13) per share, with a total value of £20,616.66 ($27,335.80). Over the last ninety days, insiders acquired 1,087 shares of company stock worth $2,144,228. Company insiders own 1.52% of the company's stock.

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.