IMI (LON:IMI) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

IMI plc (LON:IMI)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 2,283.59 and traded as high as GBX 2,492. IMI shares last traded at GBX 2,472, with a volume of 131,552 shares traded.

Analysts Set New Price Targets

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

IMI Stock Performance

The stock has a market capitalization of £6.09 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 1.12 and a beta of 1.08. The company has a quick ratio of 0.80, a current ratio of 1.36 and a debt-to-equity ratio of 68.33. The stock’s 50-day simple moving average is GBX 2,424.95 and its 200 day simple moving average is GBX 2,286.85.

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.