IDEX (NYSE:IEX) Price Target Lowered to $215.00 at DA Davidson

IDEX (NYSE:IEX) had its price target reduced by DA Davidson from $225.00 to $215.00 in a research report released on Wednesday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

IEX has been the subject of several other reports. Stifel Nicolaus lifted their price objective on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Citigroup lowered their target price on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada lowered their target price on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Finally, Robert W. Baird lowered their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, IDEX has a consensus rating of “Moderate Buy” and an average price target of $241.71.

IDEX Stock Up 1.2 %

NYSE IEX opened at $198.78 on Wednesday. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $210.88 and a two-hundred day moving average of $211.50. The firm has a market capitalization of $15.05 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 1.96 and a beta of 0.97. IDEX has a 52 week low of $189.51 and a 52 week high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, topping the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. On average, analysts predict that IDEX will post 8.31 earnings per share for the current year.

Institutional Trading of IDEX

A number of hedge funds have recently added to or reduced their stakes in IEX. Blue Trust Inc. lifted its stake in IDEX by 41.9% in the third quarter. Blue Trust Inc. now owns 481 shares of the industrial products company’s stock worth $97,000 after acquiring an additional 142 shares during the period. Assenagon Asset Management S.A. raised its holdings in IDEX by 27.2% in the third quarter. Assenagon Asset Management S.A. now owns 67,650 shares of the industrial products company’s stock worth $14,511,000 after purchasing an additional 14,457 shares in the last quarter. Values First Advisors Inc. bought a new position in IDEX in the third quarter worth about $98,000. Blackston Financial Advisory Group LLC raised its holdings in IDEX by 32.8% in the third quarter. Blackston Financial Advisory Group LLC now owns 2,239 shares of the industrial products company’s stock worth $480,000 after purchasing an additional 553 shares in the last quarter. Finally, Lake Street Advisors Group LLC bought a new position in IDEX in the third quarter worth about $248,000. 97.96% of the stock is owned by hedge funds and other institutional investors.

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.