JPMorgan Chase & Co. Cuts IMI (LON:IMI) Price Target to GBX 3,050

IMI (LON:IMI) had its price target reduced by equities researchers at JPMorgan Chase & Co. from GBX 3,100 to GBX 3,050 in a report issued on Wednesday,Digital Look reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 13.64% from the stock’s previous close.

IMI Price Performance

Shares of IMI opened at GBX 2,684 on Wednesday. IMI has a fifty-two week low of GBX 1,802.19 and a fifty-two week high of GBX 3,848. The firm’s 50-day simple moving average is GBX 2,739.70 and its two-hundred day simple moving average is GBX 2,634.49. The stock has a market cap of £6.45 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 1.12 and a beta of 1.05. The company has a debt-to-equity ratio of 58.04, a quick ratio of 0.80 and a current ratio of 1.50.

IMI (LON:IMI) last posted its quarterly earnings results on Friday, March 6th. The company reported GBX 132.30 earnings per share for the quarter. IMI had a return on equity of 24.91% and a net margin of 14.33%. Analysts anticipate that IMI will post 137.9737609 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jamie Pike acquired 3,508 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were bought at an average cost of GBX 2,848 per share, with a total value of £99,907.84. Over the last quarter, insiders have bought 3,540 shares of company stock worth $10,080,790. Corporate insiders own 1.10% of the company’s stock.

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.