IDEX Co. (NYSE:IEX) Receives $241.14 Consensus Price Target from Brokerages

IDEX Co. (NYSE:IEX) has been given an average rating of “Moderate Buy” by the eight analysts that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $241.14.

IEX has been the topic of a number of analyst reports. TD Cowen lowered their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Oppenheimer lowered their price target on IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Royal Bank of Canada boosted their price objective on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Robert W. Baird cut their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st.

Institutional Investors Weigh In On IDEX

Hedge funds have recently made changes to their positions in the stock. Catalyst Capital Advisors LLC raised its holdings in 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 acquiring an additional 59 shares in the last quarter. Assetmark Inc. bought a new position in IDEX in the third quarter worth $39,000. EdgeRock Capital LLC acquired a new stake in IDEX during the second quarter worth $41,000. Whittier Trust Co. raised its stake in shares of IDEX by 38.4% in the 2nd 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 in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 100 shares during the period. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

IEX stock opened at $228.90 on Tuesday. The firm has a 50 day simple moving average of $208.89 and a 200 day simple moving average of $207.63. IDEX has a 52 week low of $189.33 and a 52 week high of $246.36. The stock has a market cap of $17.33 billion, a P/E ratio of 35.43, a P/E/G ratio of 2.32 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. During the same quarter last year, the business posted $2.12 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. Research analysts anticipate that IDEX will post 7.87 earnings per share for the current fiscal year.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $2.76 annualized dividend and a dividend yield of 1.21%. IDEX’s payout ratio is 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.