IDEX (NYSE:IEX) Given New $256.00 Price Target at Robert W. Baird

IDEX (NYSE:IEX) had its price objective decreased by Robert W. Baird from $260.00 to $256.00 in a research report report published on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the industrial products company’s stock.

Other equities research analysts also recently issued research reports about the company. Citigroup raised their price target on IDEX from $254.00 to $277.00 and gave the company a buy rating in a report on Monday, April 8th. StockNews.com downgraded IDEX from a buy rating to a hold rating in a report on Wednesday. Stifel Nicolaus raised IDEX from a hold rating to a buy rating and raised their price target for the company from $215.00 to $265.00 in a report on Thursday, February 8th. Oppenheimer raised their price target on IDEX from $245.00 to $252.00 and gave the company an outperform rating in a report on Thursday, April 18th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $241.67.

IDEX Stock Performance

Shares of IEX stock opened at $223.29 on Thursday. The stock has a market cap of $16.90 billion, a P/E ratio of 29.38, a P/E/G ratio of 2.24 and a beta of 0.97. The company has a fifty day moving average price of $236.49 and a two-hundred day moving average price of $216.60. 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 0.37, a current ratio of 3.37 and a quick ratio of 2.05.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.12. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The firm had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. During the same quarter in the prior year, the company earned $2.09 earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, equities analysts predict that IDEX will post 8.34 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IEX. Planned Solutions Inc. bought a new position in IDEX in the fourth quarter valued at about $33,000. Riverview Trust Co bought a new position in IDEX in the first quarter valued at about $35,000. Quarry LP bought a new position in IDEX in the fourth quarter valued at about $36,000. EdgeRock Capital LLC bought a new position in IDEX in the fourth quarter valued at about $48,000. Finally, VisionPoint Advisory Group LLC bought a new position in IDEX in the fourth quarter valued at about $50,000. 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.