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

Shares of IDEX Co. (NYSE:IEX) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are covering the company, Marketbeat Ratings reports. Two 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 target among brokers that have issued a report on the stock in the last year is $241.14.

Several analysts have recently issued reports on IEX shares. Robert W. Baird reduced their price target on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus boosted their price target on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. DA Davidson reduced their price objective on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Royal Bank of Canada boosted their target price on IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, TD Cowen reduced their price target on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th.

IDEX Trading Down 0.2 %

Shares of IEX stock opened at $228.51 on Tuesday. IDEX has a 1-year low of $189.33 and a 1-year high of $246.36. The firm has a market cap of $17.30 billion, a PE ratio of 35.37, a price-to-earnings-growth ratio of 2.48 and a beta of 0.96. The company has a 50-day moving average of $209.33 and a two-hundred day moving average of $207.45. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11.

IDEX (NYSE:IEX) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. During the same quarter last year, the firm earned $2.12 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts predict that IDEX will post 7.88 EPS for the current year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a $0.69 dividend. The ex-dividend date was Friday, October 11th. This represents a $2.76 annualized dividend and a yield of 1.21%. IDEX’s dividend payout ratio is currently 42.72%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IEX. Catalyst Capital Advisors LLC boosted its stake in IDEX by 73.8% in the third 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. purchased a new position in IDEX during the 3rd quarter worth approximately $39,000. EdgeRock Capital LLC acquired a new position in IDEX during the second quarter worth approximately $41,000. Whittier Trust Co. lifted 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 buying an additional 58 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

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.