IMI (LON:IMI) Price Target Raised to GBX 2,900

IMI (LON:IMI) had its target price upped by Berenberg Bank from GBX 2,550 to GBX 2,900 in a research note issued on Thursday,London Stock Exchange reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s price objective indicates a potential upside of 19.44% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. Peel Hunt reiterated a “buy” rating and set a GBX 2,450 price objective on shares of IMI in a research report on Friday, August 1st. Royal Bank Of Canada lowered shares of IMI to a “sector perform” rating and lifted their price target for the stock from GBX 2,475 to GBX 2,500 in a report on Tuesday, October 14th. Jefferies Financial Group lifted their price target on IMI from GBX 2,490 to GBX 2,500 and gave the stock a “buy” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of IMI from GBX 2,500 to GBX 2,850 and gave the company an “overweight” rating in a report on Tuesday, August 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price 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. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 2,637.50.

IMI Price Performance

IMI stock traded down GBX 64 during mid-day trading on Thursday, hitting GBX 2,428. The stock had a trading volume of 777,355 shares, compared to its average volume of 1,299,657. The firm has a market capitalization of £5.98 billion, a P/E ratio of 26.02, 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. IMI has a one year low of GBX 1,555.96 and a one year high of GBX 2,572. The firm’s 50 day moving average is GBX 2,306.45 and its 200 day moving average is GBX 2,146.28.

Insider Buying and Selling at IMI

In other news, insider Luke Grant sold 271 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of GBX 2,301, for a total value of £6,235.71. Also, insider Ajai Puri acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The stock was purchased at an average price of GBX 2,235 per share, for a total transaction of £22,350. Insiders purchased 1,268 shares of company stock valued at $2,846,052 over the last quarter. Insiders own 1.10% of the company’s stock.

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.