IMI (LON:IMI) Reaches New 1-Year High – Here’s What Happened

IMI plc (LON:IMI)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as GBX 2,920 and last traded at GBX 2,912, with a volume of 805398 shares changing hands. The stock had previously closed at GBX 2,852.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Berenberg Bank boosted their target price on IMI from GBX 2,550 to GBX 2,900 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Panmure Gordon restated a “buy” rating and set a GBX 2,760 price objective on shares of IMI in a report on Tuesday, November 25th. Royal Bank Of Canada lowered shares of IMI to a “sector perform” rating and upped their price objective for the company from GBX 2,475 to GBX 2,500 in a research note on Tuesday, October 14th. Finally, JPMorgan Chase & Co. lifted their target price on shares of IMI from GBX 2,850 to GBX 2,960 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 2,670.71.

IMI Trading Up 1.7%

The company’s 50 day simple moving average is GBX 2,597.15 and its two-hundred day simple moving average is GBX 2,415.94. The stock has a market cap of £7.14 billion, a price-to-earnings ratio of 31.08, a price-to-earnings-growth ratio of 1.12 and a beta of 1.08. The company has a debt-to-equity ratio of 68.33, a quick ratio of 0.80 and a current ratio of 1.36.

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.