IMI (LON:IMI) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• IMI shares crossed above its 200-day moving average (200‑day MA GBX 2,528.94), trading as high as GBX 2,706 and last at GBX 2,680 on volume of about 1.95 million shares.
• JPMorgan raised its price target on IMI from GBX 2,850 to GBX 2,960 and gave an "overweight" rating; the stock's consensus is a "Moderate Buy" with an average target of GBX 2,670.71 (six Buys, one Hold).
• Insider buying and valuation: director Jamie Pike bought 3,508 shares at GBX 2,848 on March 6, while IMI has a market cap of £6.60bn and a PE ratio of 28.72.

IMI plc (LON:IMI - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 2,528.94 and traded as high as GBX 2,706. IMI shares last traded at GBX 2,680, with a volume of 1,945,729 shares trading hands.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their price target on shares of IMI from GBX 2,850 to GBX 2,960 and gave the stock an "overweight" rating in a report on Thursday, December 4th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, IMI has an average rating of "Moderate Buy" and an average price target of GBX 2,670.71.

IMI Stock Down 1.1%

The stock has a market cap of £6.60 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 1.12 and a beta of 1.05. The business has a fifty day moving average of GBX 2,765.99 and a 200-day moving average of GBX 2,528.94. The company has a debt-to-equity ratio of 58.04, a current ratio of 1.50 and a quick ratio of 0.80.

IMI (LON:IMI - Get Free Report) last issued its earnings results on Friday, March 6th. The company reported GBX 132.30 earnings per share for the quarter. IMI had a return on equity of 24.91% and a net margin of 14.33%. Equities research analysts anticipate that IMI plc will post 137.9737609 earnings per share for the current year.

Insider Buying and Selling

In other IMI news, insider Jamie Pike purchased 3,508 shares of IMI stock in a transaction dated 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. Over the last quarter, insiders have bought 3,540 shares of company stock worth $10,078,876. 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. The Company is listed on the London Stock Exchange and is a constituent of the FTSE4Good Index.

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