IDEX Co. (NYSE:IEX) Receives $241.00 Average Target Price from Brokerages

Shares of IDEX Co. (NYSE:IEX) have received an average rating of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $241.00.

Several brokerages have weighed in on IEX. Citigroup lowered their price objective on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada reduced their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus boosted their target price on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Robert W. Baird reduced their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. CWM LLC lifted its holdings in shares of IDEX by 10.4% during the third quarter. CWM LLC now owns 2,064 shares of the industrial products company’s stock valued at $443,000 after purchasing an additional 195 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after buying an additional 100 shares in the last quarter. Procyon Advisors LLC raised its stake in IDEX by 72.7% during the third quarter. Procyon Advisors LLC now owns 2,109 shares of the industrial products company’s stock valued at $452,000 after buying an additional 888 shares during the last quarter. B.O.S.S. Retirement Advisors LLC boosted its holdings in IDEX by 17.3% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 27,805 shares of the industrial products company’s stock worth $5,964,000 after acquiring an additional 4,096 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of IDEX by 1.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,527 shares of the industrial products company’s stock worth $1,615,000 after acquiring an additional 118 shares during the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Stock Performance

Shares of IEX stock opened at $195.21 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.11 and a current ratio of 2.53. IDEX has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The stock has a 50 day moving average price of $212.78 and a two-hundred day moving average price of $211.56. The company has a market capitalization of $14.78 billion, a P/E ratio of 29.35, a PEG ratio of 1.98 and a beta of 0.97.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. Analysts expect that IDEX will post 8.37 earnings per share for the current year.

IDEX Company Profile

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.