Brokerages Set IDEX Co. (NYSE:IEX) PT at $238.78

Shares of IDEX Co. (NYSE:IEX) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $241.67.

A number of research analysts have issued reports on IEX shares. Citigroup increased their target price on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a report on Monday, April 8th. StockNews.com lowered IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus raised shares of IDEX from a “hold” rating to a “buy” rating and boosted their price objective for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Royal Bank of Canada restated an “outperform” rating and set a $255.00 target price on shares of IDEX in a research report on Thursday, March 21st. Finally, Robert W. Baird cut their price target on IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a report on Thursday.

IDEX Stock Down 0.6 %

IDEX stock opened at $223.29 on Friday. The stock’s 50 day moving average price is $236.49 and its 200 day moving average price is $216.60. The company has a market cap of $16.90 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.89 and a quick ratio of 2.05. IDEX has a 1-year low of $183.76 and a 1-year high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The business had revenue of $801.00 million for the quarter, compared to analysts’ expectations of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.88%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 EPS. On average, sell-side analysts predict that IDEX will post 8.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IEX. Planned Solutions Inc. purchased a new position in shares of IDEX during the 4th quarter valued at approximately $33,000. Riverview Trust Co acquired a new position in IDEX during the 1st quarter worth $35,000. Quarry LP bought a new stake in shares of IDEX in the 4th quarter worth about $36,000. EdgeRock Capital LLC bought a new position in shares of IDEX during the fourth quarter worth about $48,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in IDEX during the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

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.