IMI (LON:IMI) Sets New 1-Year High – Still a Buy?

IMI plc (LON:IMI) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 2,752 and last traded at GBX 2,740, with a volume of 1551905 shares. The stock had previously closed at GBX 2,672.

Analysts Set New Price Targets

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

IMI Stock Up 2.5%

The firm’s fifty day simple moving average is GBX 2,494.23 and its 200 day simple moving average is GBX 2,352.64. 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 £6.74 billion, a price-to-earnings ratio of 29.35, 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.