Brokerages Set IDEX Co. (NYSE:IEX) PT at $233.50

Shares of IDEX Co. (NYSE:IEX) have been given an average rating of “Moderate Buy” by the nine research firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $233.50.

A number of equities analysts have recently issued reports on the stock. TD Cowen cut their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. DA Davidson reduced their price objective on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Oppenheimer decreased their price objective on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Robert W. Baird cut their target price on IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Royal Bank of Canada decreased their price target on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd.

Institutional Investors Weigh In On IDEX

Several large investors have recently added to or reduced their stakes in IEX. Albert D Mason Inc. raised its stake in IDEX by 1.0% in the first quarter. Albert D Mason Inc. now owns 4,509 shares of the industrial products company’s stock valued at $1,100,000 after purchasing an additional 45 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of IDEX by 31.0% during the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 57 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in IDEX by 19.9% in the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 57 shares in the last quarter. Whittier Trust Co. increased its stake in IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 58 shares during the last quarter. Finally, Czech National Bank raised its position in IDEX by 0.5% during the first quarter. Czech National Bank now owns 13,306 shares of the industrial products company’s stock valued at $3,247,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of IEX stock opened at $205.60 on Monday. The stock has a market capitalization of $15.56 billion, a PE ratio of 27.05, a PEG ratio of 2.09 and a beta of 0.95. IDEX has a one year low of $183.76 and a one year high of $246.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52. The business’s 50 day simple moving average is $200.65 and its 200 day simple moving average is $214.08.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The firm had revenue of $807.20 million during the quarter, compared to the consensus estimate of $828.15 million. During the same period last year, the business posted $2.18 EPS. The business’s revenue was down 4.6% compared to the same quarter last year. As a group, research analysts forecast that IDEX will post 7.88 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.