IDEX (NYSE:IEX) Price Target Cut to $215.00 by Analysts at DA Davidson

IDEX (NYSE:IEX) had its target price dropped by investment analysts at DA Davidson from $225.00 to $215.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. DA Davidson’s price objective points to a potential upside of 9.46% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Royal Bank of Canada cut their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Robert W. Baird decreased their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Citigroup reduced their price target on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Stifel Nicolaus upped their target price on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $241.71.

IDEX Trading Up 0.0 %

IEX stock traded up $0.05 during midday trading on Wednesday, reaching $196.42. The company’s stock had a trading volume of 66,145 shares, compared to its average volume of 531,784. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. IDEX has a 52 week low of $189.51 and a 52 week high of $246.36. The business’s 50-day simple moving average is $211.46 and its 200-day simple moving average is $211.59. The stock has a market cap of $14.87 billion, a PE ratio of 29.52, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share 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%. As a group, sell-side analysts expect that IDEX will post 8.31 EPS for the current year.

Institutional Trading of IDEX

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Orion Capital Management LLC bought a new stake in IDEX during the 4th quarter worth $86,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in IDEX by 15.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 747,554 shares of the industrial products company’s stock valued at $156,456,000 after buying an additional 102,129 shares during the last quarter. Sovereign s Capital Management LLC acquired a new stake in IDEX during the 4th quarter worth approximately $420,000. Squarepoint Ops LLC grew its holdings in IDEX by 4.2% during the 4th quarter. Squarepoint Ops LLC now owns 2,123 shares of the industrial products company’s stock worth $444,000 after acquiring an additional 85 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in IDEX by 2.9% during the 4th quarter. Tidal Investments LLC now owns 5,588 shares of the industrial products company’s stock worth $1,170,000 after acquiring an additional 160 shares during the last quarter. 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.