IMI (LON:IMI) Reaches New 12-Month High – Should You Buy?

IMI plc (LON:IMI) reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 2,920 and last traded at GBX 2,912, with a volume of 805398 shares changing hands. The stock had previously closed at GBX 2,852.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IMI shares. Berenberg Bank increased their price objective 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. JPMorgan Chase & Co. upped their target price on IMI from GBX 2,850 to GBX 2,960 and gave the company an “overweight” rating in a report on Thursday, December 4th. Royal Bank Of Canada downgraded IMI to a “sector perform” rating and raised their price target for the stock from GBX 2,475 to GBX 2,500 in a report on Tuesday, October 14th. Finally, Panmure Gordon restated a “buy” rating and set a GBX 2,760 price objective 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 given a Hold rating to the stock. According to MarketBeat.com, IMI presently has an average rating of “Moderate Buy” and a consensus price target of GBX 2,670.71.

IMI Trading Up 1.7%

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 firm has a 50-day moving average price of GBX 2,597.15 and a 200-day moving average price of GBX 2,415.94. The company has a market capitalization of £7.14 billion, a price-to-earnings ratio of 31.08, 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.