IDEX Corporation (NYSE:IEX) had its price objective increased by equities research analysts at Royal Bank Of Canada from $124.00 to $126.00 in a report released on Wednesday, October 18th, Marketbeat Ratings reports. The brokerage currently has a “sector perform” rating on the industrial products company’s stock. Royal Bank Of Canada’s price objective points to a potential downside of 1.46% from the stock’s previous close.
Several other brokerages have also issued reports on IEX. SunTrust Banks, Inc. reissued a “hold” rating and issued a $118.00 price target on shares of IDEX Corporation in a report on Tuesday, October 17th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of IDEX Corporation from a “hold” rating to a “buy” rating and set a $139.00 target price on the stock in a research note on Thursday, October 5th. Cowen and Company restated a “hold” rating and issued a $95.00 target price on shares of IDEX Corporation in a research note on Friday, October 6th. Jefferies Group LLC restated a “hold” rating on shares of IDEX Corporation in a research note on Friday, October 6th. Finally, Robert W. Baird restated a “buy” rating and issued a $129.00 target price on shares of IDEX Corporation in a research note on Wednesday, October 4th. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $113.78.
Shares of IDEX Corporation (IEX) traded up $0.06 during mid-day trading on Wednesday, reaching $127.87. 135,100 shares of the company were exchanged, compared to its average volume of 312,218. IDEX Corporation has a fifty-two week low of $84.64 and a fifty-two week high of $129.40. The company has a market capitalization of $9,764.92, a price-to-earnings ratio of 30.80, a P/E/G ratio of 2.31 and a beta of 1.22. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 2.04.
IDEX Corporation (NYSE:IEX) last announced its earnings results on Monday, October 16th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.02. The business had revenue of $574.50 million for the quarter, compared to analyst estimates of $563.23 million. IDEX Corporation had a net margin of 13.48% and a return on equity of 19.07%. IDEX Corporation’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 earnings per share. equities analysts anticipate that IDEX Corporation will post 4.26 EPS for the current fiscal year.
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In other news, SVP Daniel J. Salliotte sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $115.34, for a total value of $692,040.00. Following the completion of the sale, the senior vice president now directly owns 33,762 shares of the company’s stock, valued at approximately $3,894,109.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jeffrey D. Bucklew sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $116.79, for a total value of $467,160.00. Following the sale, the senior vice president now directly owns 6,726 shares of the company’s stock, valued at $785,529.54. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank bought a new stake in IDEX Corporation during the 2nd quarter worth approximately $106,000. Strs Ohio bought a new stake in IDEX Corporation during the 2nd quarter worth approximately $112,000. Acrospire Investment Management LLC increased its stake in IDEX Corporation by 1,000.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,100 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 1,000 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in IDEX Corporation during the 2nd quarter worth approximately $134,000. Finally, IHT Wealth Management LLC grew its stake in shares of IDEX Corporation by 258.5% during the 2nd quarter. IHT Wealth Management LLC now owns 527 shares of the industrial products company’s stock worth $165,000 after acquiring an additional 380 shares in the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.
About IDEX Corporation
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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