IMI (LON:IMI) Shares Pass Above 200-Day Moving Average – Here’s What Happened

IMI plc (LON:IMIGet Free Report)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,589.52 and traded as high as GBX 2,918. IMI shares last traded at GBX 2,860, with a volume of 1,183,993 shares changing hands.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut their price objective on IMI from GBX 3,330 to GBX 3,100 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 2,690.71.

Read Our Latest Stock Report on IMI

IMI Price Performance

The company has a debt-to-equity ratio of 58.04, a current ratio of 1.50 and a quick ratio of 0.80. The stock has a 50 day moving average price of GBX 2,753.99 and a 200-day moving average price of GBX 2,595.32. The stock has a market capitalization of £6.98 billion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 1.12 and a beta of 1.07.

IMI (LON:IMIGet Free Report) last issued its quarterly earnings results on Friday, March 6th. The company reported GBX 132.30 earnings per share (EPS) for the quarter. IMI had a return on equity of 24.91% and a net margin of 14.33%. On average, analysts forecast that IMI plc will post 137.9737609 earnings per share for the current year.

Insider Activity

In other news, insider Jamie Pike purchased 3,508 shares of the stock in a transaction dated Friday, March 6th. The shares were purchased at an average cost of GBX 2,848 per share, with a total value of £99,907.84. Insiders purchased 3,540 shares of company stock valued at $10,081,538 over the last quarter. Insiders own 1.10% of the company’s stock.

IMI Company Profile

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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.

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