IDEX Co. (NYSE:IEX) Receives $243.14 Average Target Price from Analysts

IDEX Co. (NYSE:IEX) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $243.14.

IEX has been the topic of several research reports. Robert W. Baird decreased their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Citigroup raised their target price on shares of IDEX from $251.00 to $269.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Stifel Nicolaus raised their price objective on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada increased their price target on IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a research note on Friday, December 6th.

Institutional Investors Weigh In On IDEX

Institutional investors have recently bought and sold shares of the company. Catalyst Capital Advisors LLC boosted its holdings in shares of IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after buying an additional 59 shares during the last quarter. Assetmark Inc. acquired a new stake in IDEX in the 3rd quarter valued at about $39,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in IDEX by 100.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares during the period. Whittier Trust Co. lifted its position in shares of IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after buying an additional 58 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of IDEX by 31.0% during the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 57 shares during the period. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Down 0.9 %

Shares of IEX opened at $211.11 on Wednesday. IDEX has a 12 month low of $189.51 and a 12 month high of $246.36. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average price of $221.68 and a two-hundred day moving average price of $209.42. The stock has a market cap of $15.99 billion, a price-to-earnings ratio of 32.68, a P/E/G ratio of 2.41 and a beta of 0.96.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. During the same period in the previous year, the business earned $2.12 EPS. IDEX’s revenue was up .6% compared to the same quarter last year. Equities analysts predict that IDEX will post 7.89 EPS for the current fiscal year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $0.69 per share. The ex-dividend date is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.31%. IDEX’s payout ratio is presently 42.72%.

About IDEX

IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.