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

IMI plc (LON:IMI) reached a new 52-week high on Thursday . The company traded as high as GBX 2,768 and last traded at GBX 2,762, with a volume of 1801601 shares. The stock had previously closed at GBX 2,716.

Analysts Set New Price Targets

A number of analysts recently commented on IMI shares. Royal Bank Of Canada cut IMI to a “sector perform” rating and lifted their price objective for the stock from GBX 2,475 to GBX 2,500 in a research report on Tuesday, October 14th. Berenberg Bank raised their price target on shares of IMI from GBX 2,550 to GBX 2,900 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Panmure Gordon reissued a “buy” rating and issued a GBX 2,760 price objective on shares of IMI in a research report on Tuesday, November 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of IMI from GBX 2,850 to GBX 2,960 and gave the company an “overweight” rating in a research note 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 company’s stock. Based on data from MarketBeat, IMI presently has an average rating of “Moderate Buy” and an average price target of GBX 2,670.71.

IMI Stock Performance

The stock’s 50 day moving average price is GBX 2,523.55 and its 200 day moving average price is GBX 2,373.78. The company has a current ratio of 1.36, a quick ratio of 0.80 and a debt-to-equity ratio of 68.33. The company has a market cap of £6.80 billion, a price-to-earnings ratio of 29.58, a P/E/G ratio of 1.12 and a beta of 1.08.

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.