IDEX Co. (NYSE:IEX) Receives $241.71 Consensus Price Target from Brokerages

Shares of IDEX Co. (NYSE:IEX) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $241.71.

A number of research analysts have weighed in on IEX shares. DA Davidson lowered their target price on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada reduced their target price on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Stifel Nicolaus lifted their price target on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Citigroup decreased their target price on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a report on Monday, January 13th.

IDEX Trading Down 3.8 %

IDEX stock opened at $162.33 on Friday. IDEX has a one year low of $160.13 and a one year high of $241.97. The business’s fifty day moving average is $192.73 and its 200 day moving average is $208.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. The stock has a market capitalization of $12.26 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. On average, sell-side analysts predict that IDEX will post 8.26 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IEX. Public Sector Pension Investment Board raised its position in shares of IDEX by 13.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,304 shares of the industrial products company’s stock valued at $709,000 after buying an additional 400 shares in the last quarter. Paloma Partners Management Co bought a new stake in IDEX in the third quarter worth $232,000. Benjamin Edwards Inc. bought a new stake in IDEX in the third quarter worth $268,000. Investment Management Corp of Ontario increased its position in IDEX by 46.8% during the third quarter. Investment Management Corp of Ontario now owns 2,511 shares of the industrial products company’s stock valued at $539,000 after acquiring an additional 800 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its stake in shares of IDEX by 2.6% in the third quarter. Royal London Asset Management Ltd. now owns 32,584 shares of the industrial products company’s stock valued at $6,989,000 after acquiring an additional 833 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

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.