IMI plc Announces Share Repurchase and Cancellation

IMI plc ( (GB:IMI) ) just unveiled an announcement.

IMI plc has announced the repurchase of 125,000 of its ordinary shares for cancellation at an average price of 1,970.0399 pence per share. This transaction, conducted through Numis Securities Limited, reduces the company’s total number of ordinary shares in issue to 264,702,779, with 12,648,836 shares held in treasury, affecting the total number of voting rights to 252,053,943.

The most recent analyst rating on (GB:IMI) stock is a Buy with a £2205.00 price target. To see the full list of analyst forecasts on IMI plc stock, see the GB:IMI Stock Forecast page.

Spark’s Take on GB:IMI Stock

According to Spark, TipRanks’ AI Analyst, GB:IMI is a Outperform.

IMI plc demonstrates a strong financial foundation with solid revenue growth and healthy profitability metrics. The strategic share buyback program enhances shareholder confidence and value. However, potential short-term technical weaknesses and slightly elevated valuation may limit immediate upside potential. Overall, the company is fundamentally sound, with a stable outlook in its industry.

To see Spark’s full report on GB:IMI stock, click here.

More about IMI plc

Average Trading Volume: 753,176

Technical Sentiment Signal: Buy

Current Market Cap: £4.99B

Find detailed analytics on IMI stock on TipRanks’ Stock Analysis page.