IDEX (NYSE:IEX) Price Target Increased to $277.00 by Analysts at Citigroup

IDEX (NYSE:IEX) had its price objective increased by Citigroup from $254.00 to $277.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other equities analysts have also commented on the company. Stifel Nicolaus raised IDEX from a hold rating to a buy rating and raised their price objective for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Royal Bank of Canada restated an outperform rating and issued a $255.00 price objective on shares of IDEX in a report on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, IDEX presently has an average rating of Moderate Buy and an average target price of $238.00.

IDEX Trading Down 0.2 %

NYSE IEX opened at $238.89 on Monday. The stock has a 50 day simple moving average of $234.27 and a two-hundred day simple moving average of $214.58. IDEX has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The stock has a market cap of $18.08 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 2.39 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 2.89.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.78 by $0.05. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The business had revenue of $788.90 million during the quarter, compared to analyst estimates of $767.96 million. During the same period in the prior year, the business earned $2.01 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, analysts forecast that IDEX will post 8.35 earnings per share for the current year.

Institutional Investors Weigh In On IDEX

A number of institutional investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust lifted its position in IDEX by 120.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 77 shares in the last quarter. Planned Solutions Inc. bought a new position in shares of IDEX during the fourth quarter valued at $33,000. Clear Street Markets LLC boosted its position in shares of IDEX by 94.7% during the first quarter. Clear Street Markets LLC now owns 148 shares of the industrial products company’s stock valued at $34,000 after buying an additional 72 shares during the last quarter. Quarry LP bought a new stake in IDEX in the 4th quarter worth about $36,000. Finally, EdgeRock Capital LLC purchased a new position in IDEX in the 4th quarter worth about $48,000. Hedge funds and other 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.