IMI (LON:IMI) Stock Passes Above 200-Day Moving Average - What's Next?

Key Points

• IMI stock passed above its 200-day moving average (GBX 2,550.76) on Wednesday, trading as high as GBX 2,762 and last at GBX 2,746.79 on volume of 4,001,841 shares.
• Analysts hold a consensus Moderate Buy with a target of GBX 2,690.71, while JPMorgan cut its target from GBX 3,330 to GBX 3,100 but kept an overweight rating.
• Insider buying was reported—Jamie Pike purchased 3,508 shares at GBX 2,848—and the company posted GBX 132.30 EPS last quarter with a ROE of 24.91% and a P/E of 22.19.

IMI plc (LON:IMI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,550.76 and traded as high as GBX 2,762. IMI shares last traded at GBX 2,746.79, with a volume of 4,001,841 shares changing hands.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reduced their target price on IMI from GBX 3,330 to GBX 3,100 and set an "overweight" rating on the stock in a research report on Wednesday, April 1st. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 2,690.71.

IMI Price Performance

The stock has a market capitalization of £6.67 billion, a PE ratio of 22.19, a P/E/G ratio of 1.12 and a beta of 1.07. The company has a debt-to-equity ratio of 58.04, a current ratio of 1.50 and a quick ratio of 0.80. The company has a 50-day moving average of GBX 2,749.66 and a two-hundred day moving average of GBX 2,550.76.

IMI (LON:IMI - Get Free Report) last released its quarterly earnings data on Friday, March 6th. The company reported GBX 132.30 earnings per share (EPS) for the quarter. IMI had a return on equity of 24.91% and a net margin of 14.33%. Sell-side analysts predict that IMI plc will post 137.9737609 EPS for the current fiscal year.

Insider Transactions at IMI

In related news, insider Jamie Pike acquired 3,508 shares of IMI stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average price of GBX 2,848 per share, for a total transaction of £99,907.84. In the last ninety days, insiders purchased 3,540 shares of company stock worth $10,078,876. Insiders own 1.10% 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. The Company is listed on the London Stock Exchange and is a constituent of the FTSE4Good Index.

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