IDEX Co. (NYSE:IEX) Receives Average Rating of “Moderate Buy” from Brokerages

IDEX Co. (NYSE:IEXGet Free Report) has received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the company, reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $250.71.

A number of equities research analysts recently weighed in on IEX shares. upgraded IDEX from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. Citigroup upped their price target on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Oppenheimer upped their price target on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Finally, Robert W. Baird lowered their price target on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th.

Check Out Our Latest Stock Report on IEX

IDEX Price Performance

Shares of NYSE:IEX opened at $195.24 on Wednesday. The company has a quick ratio of 2.45, a current ratio of 3.37 and a debt-to-equity ratio of 0.37. The company has a market cap of $14.78 billion, a P/E ratio of 25.69, a PEG ratio of 1.96 and a beta of 0.95. IDEX has a 52 week low of $183.76 and a 52 week high of $246.36. The company has a 50-day moving average price of $209.04 and a 200 day moving average price of $220.43.

IDEX (NYSE:IEXGet Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. The firm had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The firm’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.09 earnings per share. Research analysts predict that IDEX will post 8.31 earnings per share for the current year.

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a yield of 1.41%. IDEX’s dividend payout ratio (DPR) is currently 36.32%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IEX. Planned Solutions Inc. acquired a new position in IDEX in the 4th quarter valued at $33,000. Riverview Trust Co acquired a new position in IDEX in the 1st quarter valued at $35,000. Quarry LP acquired a new position in IDEX in the 4th quarter valued at $36,000. EdgeRock Capital LLC acquired a new position in IDEX in the 4th quarter valued at $48,000. Finally, VisionPoint Advisory Group LLC acquired a new position in IDEX in the 4th quarter valued at $50,000. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Company Profile

(Get Free Report

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.

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Analyst Recommendations for IDEX (NYSE:IEX)

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