IMI (LON:IMI) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• IMI plc's stock price recently surpassed its 200-day moving average of GBX 2,029.16, reaching a high of GBX 2,302 during trading.
• Several research firms have upgraded IMI's stock rating, with an average price target of GBX 2,575 and a consensus rating of "Buy."
• The company reported a 56.10 earnings per share (EPS) for the last quarter and insider transactions indicate confidence, with insiders acquiring additional shares worth over $600,000.

IMI plc (LON:IMI - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,029.16 ($27.34) and traded as high as GBX 2,302 ($31.02). IMI shares last traded at GBX 2,278 ($30.69), with a volume of 336,874 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IMI. Peel Hunt restated a "buy" rating and set a GBX 2,450 target price on shares of IMI in a research report on Friday, August 1st. JPMorgan Chase & Co. increased their target price on IMI from GBX 2,500 to GBX 2,850 and gave the stock an "overweight" rating in a research note on Tuesday, August 19th. Royal Bank Of Canada raised their target price on shares of IMI from GBX 2,300 to GBX 2,475 and gave the company an "outperform" rating in a research note on Friday, August 1st. Berenberg Bank lifted their target price on IMI from GBX 2,300 to GBX 2,550 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target 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. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, IMI currently has an average rating of "Buy" and an average price target of GBX 2,575.

IMI Stock Performance

The company has a quick ratio of 0.80, a current ratio of 1.36 and a debt-to-equity ratio of 68.33. The company has a 50 day simple moving average of GBX 2,243.49 and a 200-day simple moving average of GBX 2,034.31. The stock has a market capitalization of £5.62 billion, a price-to-earnings ratio of 2,447.18, a price-to-earnings-growth 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%. As a group, equities research analysts expect that IMI plc will post 137.9737609 EPS for the current fiscal year.

Insider Transactions at IMI

In other IMI news, insider Luke Grant sold 271 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of GBX 2,301, for a total value of £6,235.71. In the last ninety days, insiders acquired 267 shares of company stock valued at $606,254. 1.10% of the stock is owned by corporate insiders.

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.