IMI (LON:IMI) Shares Pass Above 200-Day Moving Average – Here’s What Happened

IMI plc (LON:IMI) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,648.28 and traded as high as GBX 2,746. IMI shares last traded at GBX 2,728, with a volume of 80,468,836 shares.

Wall Street Analysts Forecast Growth

IMI has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on IMI from GBX 3,100 to GBX 3,050 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 3,250 price target on shares of IMI in a report on Wednesday, May 13th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 2,772.86.

IMI Stock Performance

The stock has a 50-day simple moving average of GBX 2,729.52 and a 200-day simple moving average of GBX 2,651.45. The company has a market capitalization of £6.66 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 1.12 and a beta of 1.05. The company has a current ratio of 1.50, a quick ratio of 0.80 and a debt-to-equity ratio of 58.04.

IMI (LON:IMI) last announced its earnings results on Friday, March 6th. The company reported GBX 132.30 earnings per share (EPS) for the quarter. IMI had a return on equity of 24.91% and a net margin of 14.33%. On average, analysts anticipate that IMI plc will post 137.9737609 earnings per share for the current year.

Insider Activity

In other IMI news, insider Jamie Pike bought 3,508 shares of the business’s stock in a transaction on Friday, March 6th. The shares were bought at an average cost of GBX 2,848 per share, with a total value of £99,907.84. Over the last quarter, insiders purchased 3,540 shares of company stock valued at $10,080,790. Corporate insiders own 1.10% of the company’s stock.

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.