IMI (LON:IMI) Reaches New 12-Month High – Still a Buy?

IMI plc (LON:IMI) reached a new 52-week high during mid-day 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 traded. The stock had previously closed at GBX 2,852.

Analysts Set New Price Targets

A number of research firms have weighed in on IMI. Berenberg Bank boosted their target price on shares of IMI from GBX 2,550 to GBX 2,900 and gave the company a “buy” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. upped their price objective on IMI from GBX 2,850 to GBX 2,960 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Finally, Panmure Gordon reissued a “buy” rating and set a GBX 2,760 price objective on shares of IMI in a report on Tuesday, November 25th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 2,670.71.

IMI Stock Down 0.2%

The stock has a market capitalization of £6.97 billion, a P/E ratio of 30.33, 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 current ratio of 1.36 and a quick ratio of 0.80. The stock has a fifty day moving average price of GBX 2,613.55 and a 200 day moving average price of GBX 2,422.22.

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.