IMI (LON:IMI) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• IMI plc's stock price recently crossed above its 200-day moving average, trading at GBX 2,322 ($30.88) compared to a previous average of GBX 2,063.10 ($27.44).
• Wall Street analysts have a consensus "buy" rating on IMI, with target prices ranging from GBX 2,450 to GBX 2,625, suggesting potential growth for the stock.
• Insider transactions indicate confidence in IMI, with a notable purchase of 1,000 shares by insider Ajai Puri at an average price of GBX 2,235 per share.

IMI plc (LON:IMI - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 2,063.10 ($27.44) and traded as high as GBX 2,334 ($31.04). IMI shares last traded at GBX 2,322 ($30.88), with a volume of 253,269 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Peel Hunt reissued a "buy" rating and issued a GBX 2,450 price target on shares of IMI in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of IMI from GBX 2,250 to GBX 2,625 and gave the company a "buy" rating in a research report on Friday, August 1st. Royal Bank Of Canada lifted their price objective on shares of IMI from GBX 2,300 to GBX 2,475 and gave the stock an "outperform" rating in a report on Friday, August 1st. Berenberg Bank lifted their price objective on shares of IMI from GBX 2,300 to GBX 2,550 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Jefferies Financial Group lifted their price objective on shares of IMI from GBX 2,490 to GBX 2,500 and gave the stock a "buy" rating in a report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of GBX 2,575.

IMI Stock Down 0.4%

The stock has a market capitalization of £5.70 billion, a PE ratio of 2,479.42, a P/E/G 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. The stock's fifty day simple moving average is GBX 2,273.54 and its 200-day simple moving average is GBX 2,063.10.

IMI (LON:IMI - Get Free Report) last released its 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 fiscal year.

Insiders Place Their Bets

In other IMI news, insider Ajai Puri bought 1,000 shares of the stock in a transaction dated Thursday, September 25th. The shares were bought at an average cost of GBX 2,235 per share, for a total transaction of £22,350. Also, insider Luke Grant sold 110 shares of IMI stock in a transaction on Thursday, August 28th. The stock was sold at an average price of GBX 2,280, for a total value of £2,508. Insiders have bought a total of 1,254 shares of company stock worth $2,814,188 over the last quarter. Company 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.

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