IMI (LON:IMI) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• IMI plc's stock price has surpassed its 200-day moving average, with recent trading high at GBX 2,292 ($31.02) against a moving average of GBX 2,014.44 ($27.27).
• Analysts have predominantly given IMI a "Buy" rating, with six analysts rating the stock positively and an average price target of GBX 2,575.
• The company has a current market cap of £5.65 billion and reported an EPS of GBX 56.10 for its last quarterly earnings.

Shares of IMI plc (LON:IMI - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 2,014.44 ($27.33) and traded as high as GBX 2,292 ($31.09). IMI shares last traded at GBX 2,288 ($31.04), with a volume of 231,690 shares.

Wall Street Analysts Forecast Growth

IMI has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on IMI from GBX 2,250 to GBX 2,625 and gave the stock a "buy" rating in a research report on Friday, August 1st. Berenberg Bank increased their target price on IMI from GBX 2,300 to GBX 2,550 and gave the company a "buy" rating in a report on Wednesday, August 6th. Peel Hunt reissued a "buy" rating and set a GBX 2,450 target price on shares of IMI in a report on Friday, August 1st. Royal Bank Of Canada increased their target price on IMI from GBX 2,300 to GBX 2,475 and gave the company an "outperform" rating in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. increased their target price on IMI from GBX 2,500 to GBX 2,850 and gave the company an "overweight" rating in a report on Tuesday, August 19th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of GBX 2,575.

IMI Stock Performance

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 stock has a market cap of £5.63 billion, a price-to-earnings ratio of 2,452.30, a PEG ratio of 1.12 and a beta of 1.08. The firm has a fifty day moving average of GBX 2,227.45 and a 200 day moving average of GBX 2,024.47.

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

Insider Transactions at IMI

In other IMI news, insider Luke Grant sold 110 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of GBX 2,280, for a total transaction of £2,508. Insiders acquired a total of 267 shares of company stock worth $606,254 over the last ninety days. 1.10% of the stock is owned by company 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.