IMI (LON:IMI) Stock Passes Above 200 Day Moving Average – Should You Sell?

IMI plc (LON:IMI)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

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

IMI Stock Down 2.4%

The firm’s 50-day simple moving average is GBX 2,764.15 and its 200 day simple moving average is GBX 2,531.08. The company has a debt-to-equity ratio of 58.04, a quick ratio of 0.80 and a current ratio of 1.50. The stock has a market capitalization of £6.39 billion, a P/E ratio of 27.82, a PEG ratio of 1.12 and a beta of 1.05.

IMI (LON:IMI) last announced its quarterly earnings data 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%. As a group, research analysts expect that IMI plc will post 137.9737609 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jamie Pike purchased 3,508 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was purchased at an average cost of GBX 2,848 per share, for a total transaction of £99,907.84. Insiders purchased 3,540 shares of company stock valued at $10,078,876 in the last ninety days. 1.10% of the stock is owned by company 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.