IDEX (IEX) Price Target Raised to $153.00

IDEX (NYSE:IEX) had its target price boosted by equities research analysts at Stifel Nicolaus from $129.00 to $153.00 in a report issued on Tuesday, BenzingaRatingsTable reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price target indicates a potential downside of 2.19% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of IDEX from a “sell” rating to a “hold” rating in a report on Monday, April 8th. Janney Montgomery Scott cut shares of IDEX from a “buy” rating to a “neutral” rating in a report on Friday, March 29th. Boenning Scattergood reiterated a “hold” rating on shares of IDEX in a report on Wednesday, January 30th. Finally, Royal Bank of Canada upgraded shares of IDEX from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $141.00 to $146.00 in a report on Thursday, January 3rd. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $146.67.

Shares of NYSE IEX traded up $0.22 during mid-day trading on Tuesday, hitting $156.43. The stock had a trading volume of 5,841 shares, compared to its average volume of 268,052. The company has a quick ratio of 2.23, a current ratio of 3.00 and a debt-to-equity ratio of 0.43. IDEX has a 1 year low of $117.72 and a 1 year high of $159.10. The company has a market cap of $11.84 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 2.68 and a beta of 1.28.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, January 29th. The industrial products company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.27 by $0.04. The company had revenue of $614.09 million for the quarter, compared to the consensus estimate of $617.72 million. IDEX had a net margin of 16.53% and a return on equity of 20.82%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 earnings per share. Equities research analysts anticipate that IDEX will post 5.73 earnings per share for the current year.

In other news, VP Michael J. Yates sold 11,397 shares of the business’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $144.72, for a total transaction of $1,649,373.84. Following the sale, the vice president now owns 26,590 shares in the company, valued at approximately $3,848,104.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Jeffrey D. Bucklew sold 2,255 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $143.02, for a total transaction of $322,510.10. Following the sale, the senior vice president now owns 2,255 shares in the company, valued at approximately $322,510.10. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in IDEX by 0.7% in the 4th quarter. BlackRock Inc. now owns 7,982,637 shares of the industrial products company’s stock worth $1,007,886,000 after purchasing an additional 53,470 shares in the last quarter. Vanguard Group Inc boosted its stake in IDEX by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 6,997,198 shares of the industrial products company’s stock worth $1,054,197,000 after purchasing an additional 95,176 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in IDEX by 10,176.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,856,591 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 4,809,330 shares in the last quarter. FMR LLC boosted its stake in IDEX by 55.9% in the 4th quarter. FMR LLC now owns 1,733,558 shares of the industrial products company’s stock worth $218,879,000 after purchasing an additional 621,397 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in IDEX by 1.4% in the 3rd quarter. Clearbridge Investments LLC now owns 1,290,870 shares of the industrial products company’s stock worth $194,482,000 after purchasing an additional 17,572 shares in the last quarter. Institutional investors own 94.63% of the company’s stock.

IDEX Company Profile

IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Analyst Recommendations for IDEX (NYSE:IEX)

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