IDEX Co. (NYSE:IEX) Receives $241.71 Consensus Target Price from Brokerages

Shares of IDEX Co. (NYSE:IEX) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $241.71.

Several research firms have recently weighed in on IEX. DA Davidson decreased their price target on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada decreased their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Finally, Citigroup dropped their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a report on Monday, January 13th.

IDEX Stock Performance

Shares of IEX stock opened at $166.88 on Friday. The company has a market capitalization of $12.61 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53. IDEX has a one year low of $153.36 and a one year high of $238.22. The company’s 50-day moving average is $186.18 and its 200 day moving average is $206.75.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. Sell-side analysts expect that IDEX will post 8.26 EPS for the current fiscal year.

Institutional Trading of IDEX

Several large investors have recently added to or reduced their stakes in the business. Czech National Bank boosted its stake in shares of IDEX by 5.9% during the 1st quarter. Czech National Bank now owns 17,392 shares of the industrial products company’s stock worth $3,147,000 after acquiring an additional 973 shares during the last quarter. Rhumbline Advisers grew its holdings in IDEX by 6.1% during the first quarter. Rhumbline Advisers now owns 172,103 shares of the industrial products company’s stock valued at $31,145,000 after purchasing an additional 9,940 shares during the period. GAMMA Investing LLC increased its position in IDEX by 26,868.7% in the first quarter. GAMMA Investing LLC now owns 165,588 shares of the industrial products company’s stock worth $299,660,000 after buying an additional 164,974 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of IDEX by 970.7% in the first quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company’s stock worth $79,000 after buying an additional 398 shares during the period. Finally, Legacy Wealth Management LLC MS purchased a new position in shares of IDEX during the 1st quarter valued at about $267,000. 97.96% of the stock is currently owned by institutional investors.

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.