IMI (LON:IMI) Shares Cross Above 200 Day Moving Average – Here’s Why

IMI plc (LON:IMI)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 2,479.18 and traded as high as GBX 2,840.25. IMI shares last traded at GBX 2,836, with a volume of 929,113 shares trading hands.

Wall Street Analyst Weigh In

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

IMI Trading Up 2.0%

The business has a fifty day moving average of GBX 2,721.72 and a 200-day moving average of GBX 2,484.82. The company has a debt-to-equity ratio of 93.92, a quick ratio of 0.80 and a current ratio of 1.20. The company has a market capitalization of £6.89 billion, a P/E ratio of 29.99, a PEG ratio of 1.12 and a beta of 1.05.

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.