IDEX (NYSE:IEX) PT Lowered to $256.00

IDEX (NYSE:IEX) had its target price lowered by investment analysts at Robert W. Baird from $260.00 to $256.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s target price suggests a potential upside of 16.02% from the company’s current price.

Several other analysts have also recently issued reports on IEX. StockNews.com cut shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup upped their target price on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada restated an “outperform” rating and set a $255.00 target price on shares of IDEX in a research note on Thursday, March 21st. Oppenheimer upped their target price on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Finally, Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and upped their target price for the stock from $215.00 to $265.00 in a research note on Thursday, February 8th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $241.67.

IDEX Stock Down 1.2 %

Shares of IEX opened at $220.66 on Thursday. The stock has a market capitalization of $16.70 billion, a PE ratio of 29.03, a P/E/G ratio of 2.24 and a beta of 0.97. IDEX has a 1 year low of $183.76 and a 1 year high of $246.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 3.37. The company’s 50-day simple moving average is $236.36 and its 200-day simple moving average is $216.69.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.12. The business had revenue of $801.00 million for the quarter, compared to analysts’ expectations of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.09 earnings per share. Analysts forecast that IDEX will post 8.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEX

Hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new position in IDEX in the first quarter valued at approximately $35,000. Planned Solutions Inc. purchased a new position in IDEX in the fourth quarter valued at approximately $33,000. Quarry LP acquired a new stake in shares of IDEX in the fourth quarter valued at approximately $36,000. EdgeRock Capital LLC acquired a new stake in shares of IDEX in the fourth quarter valued at approximately $48,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in shares of IDEX in the fourth quarter valued at approximately $50,000. 97.96% of the stock is currently owned by hedge funds and other 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.