JPMorgan Chase & Co. Lowers IMI (LON:IMI) Price Target to GBX 3,100

Key Points

• JPMorgan Chase cut its price target for IMI from GBX 3,330 to GBX 3,100 while keeping an overweight rating, implying roughly an 18.5% upside from the current price.
• IMI shares traded up 3.4% to GBX 2,616.46; the company has a market cap of £6.44bn, a P/E of 28.04 and a 1‑year range of GBX 1,555.96–3,848.
• Insider Jamie Pike purchased 3,508 shares at GBX 2,848 on March 6 (insiders own ~1.10%); IMI last reported quarterly EPS of GBX 132.30, with analysts projecting about GBX 138 for the fiscal year.

IMI (LON:IMI - Get Free Report) had its price target lowered by analysts at JPMorgan Chase & Co. from GBX 3,330 to GBX 3,100 in a research note issued on Wednesday,London Stock Exchange reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 18.48% from the company's current price.

IMI Trading Up 3.4%

LON IMI traded up GBX 86.46 on Wednesday, hitting GBX 2,616.46. The company's stock had a trading volume of 951,847 shares, compared to its average volume of 14,853,315. The company's 50-day moving average is GBX 2,761.45 and its 200 day moving average is GBX 2,538.62. The firm has a market cap of £6.44 billion, a PE ratio of 28.04, a PEG ratio of 1.12 and a beta of 1.05. IMI has a 1-year low of GBX 1,555.96 and a 1-year high of GBX 3,848. The company has a quick ratio of 0.80, a current ratio of 1.50 and a debt-to-equity ratio of 58.04.

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

Insider Activity at IMI

In related news, insider Jamie Pike purchased 3,508 shares of IMI stock in a transaction on Friday, March 6th. The stock was acquired at an average cost of GBX 2,848 per share, for a total transaction of £99,907.84. In the last 90 days, insiders bought 3,540 shares of company stock worth $10,078,876. 1.10% of the stock is owned by corporate 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. The Company is listed on the London Stock Exchange and is a constituent of the FTSE4Good Index.

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