IMI (LON:IMI) Sets New 12-Month High – Time to Buy?

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

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Panmure Gordon reiterated a “buy” rating and issued a GBX 2,760 target price on shares of IMI in a research note on Tuesday, November 25th. Royal Bank Of Canada downgraded shares of IMI to a “sector perform” rating and raised their price target for the company from GBX 2,475 to GBX 2,500 in a report on Tuesday, October 14th. Berenberg Bank upped their price objective 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. Finally, JPMorgan Chase & Co. increased their target price on shares of 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 research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, IMI has an average rating of “Moderate Buy” and a consensus target price of GBX 2,670.71.

IMI Stock Up 0.4%

The firm has a market capitalization of £6.80 billion, a price-to-earnings ratio of 29.60, a price-to-earnings-growth ratio of 1.12 and a beta of 1.08. The company has a debt-to-equity ratio of 68.33, a quick ratio of 0.80 and a current ratio of 1.36. The business’s 50 day moving average is GBX 2,538.27 and its 200-day moving average is GBX 2,380.74.

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.