IDEX (NYSE:IEX) Price Target Cut to $241.00 by Analysts at Robert W. Baird

IDEX (NYSE:IEX) had its price objective decreased by Robert W. Baird from $256.00 to $241.00 in a research note released on Friday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the industrial products company’s stock.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus reduced their price objective on shares of IDEX from $265.00 to $236.00 and set a buy rating on the stock in a research note on Thursday, July 18th. StockNews.com downgraded IDEX from a buy rating to a hold rating in a research note on Thursday, July 11th. Citigroup upped their price objective on IDEX from $254.00 to $277.00 and gave the company a buy rating in a research note on Monday, April 8th. Finally, Oppenheimer lifted their target price on IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $239.71.

IDEX Stock Down 0.3 %

Shares of IDEX stock traded down $0.61 during trading hours on Friday, hitting $193.51. 263,931 shares of the company’s stock traded hands, compared to its average volume of 431,340. The company has a quick ratio of 2.45, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. IDEX has a twelve month low of $183.76 and a twelve month high of $246.36. The stock has a 50 day simple moving average of $202.88 and a 200-day simple moving average of $219.47. The company has a market cap of $14.65 billion, a PE ratio of 25.19, a PEG ratio of 2.08 and a beta of 0.95.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The firm had revenue of $807.20 million during the quarter, compared to analyst estimates of $828.15 million. During the same quarter last year, the firm earned $2.18 EPS. IDEX’s quarterly revenue was down 4.6% on a year-over-year basis. Equities research analysts anticipate that IDEX will post 7.85 earnings per share for the current fiscal year.

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, July 12th. IDEX’s dividend payout ratio (DPR) is 36.32%.

Institutional Trading of IDEX

Large investors have recently modified their holdings of the company. Riverview Trust Co acquired a new stake in shares of IDEX in the first quarter valued at approximately $35,000. Quarry LP bought a new stake in IDEX during the 4th quarter valued at $36,000. EdgeRock Capital LLC acquired a new position in IDEX during the 2nd quarter worth $41,000. Whittier Trust Co. increased its holdings in shares of IDEX by 38.4% during the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 58 shares during the period. Finally, VisionPoint Advisory Group LLC bought a new stake in shares of IDEX during the fourth quarter valued at about $50,000. 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.