IMI (LON:IMI) Sets New 1-Year High – Time to Buy?

IMI plc (LON:IMI) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 2,574 and last traded at GBX 2,574, with a volume of 833983 shares traded. The stock had previously closed at GBX 2,534.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IMI shares. 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. Berenberg Bank upped their price target on shares of IMI from GBX 2,550 to GBX 2,900 and gave the stock a “buy” rating in a report on Thursday, November 6th. Royal Bank Of Canada lowered shares of IMI to a “sector perform” rating and increased their price target for the stock from GBX 2,475 to GBX 2,500 in a research report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. boosted 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 report on Thursday, December 4th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, IMI currently has a consensus rating of “Moderate Buy” and an average target price of GBX 2,670.71.

IMI Price Performance

The business’s fifty day moving average price is GBX 2,447.55 and its 200 day moving average price is GBX 2,311.64. 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 market cap of £6.34 billion, a P/E ratio of 27.59, a PEG ratio of 1.12 and a beta of 1.08.

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.