IMI (LON:IMI) Hits New 12-Month High – Time to Buy?

IMI plc (LON:IMI) reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 2,890 and last traded at GBX 2,826, with a volume of 866819 shares changing hands. The stock had previously closed at GBX 2,826.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on IMI shares. Panmure Gordon reissued a “buy” rating and set a GBX 2,760 price objective on shares of IMI in a research note on Tuesday, November 25th. JPMorgan Chase & Co. increased their price target on IMI from GBX 2,850 to GBX 2,960 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Royal Bank Of Canada downgraded shares of IMI to a “sector perform” rating and raised their target price for the stock from GBX 2,475 to GBX 2,500 in a report on Tuesday, October 14th. Finally, Berenberg Bank increased their price objective on shares of IMI from GBX 2,550 to GBX 2,900 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 2,670.71.

IMI Trading Up 0.3%

The company has a market cap of £6.98 billion, a price-to-earnings ratio of 30.38, a P/E/G ratio of 1.12 and a beta of 1.08. The firm has a fifty day moving average price of GBX 2,581.07 and a 200 day moving average price of GBX 2,403.63. The company has a debt-to-equity ratio of 68.33, a quick ratio of 0.80 and a current ratio of 1.36.

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.