IDEX (NYSE:IEX – Get Free Report) had its price objective cut by research analysts at Robert W. Baird from $245.00 to $241.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price target points to a potential upside of 10.23% from the stock’s current price.
Other equities analysts also recently issued research reports about the company. TD Cowen dropped their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. 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. Stifel Nicolaus upped their price objective on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Argus downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada decreased their price objective on IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $239.43.
View Our Latest Analysis on IDEX
IDEX Stock Up 7.2 %
IDEX (NYSE:IEX – Get Free Report) last posted its quarterly 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. The company had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.12 earnings per share. Analysts expect that IDEX will post 7.87 EPS for the current year.
Institutional Trading of IDEX
Several institutional investors and hedge funds have recently modified their holdings of the business. Catalyst Capital Advisors LLC increased its position in shares of IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 59 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in shares of IDEX during the 2nd quarter valued at $41,000. Whittier Trust Co. lifted its holdings in shares of IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 58 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 100 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in IDEX by 31.0% in the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 57 shares during the last quarter. Hedge funds and other institutional investors 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.
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