IDEX (NYSE:IEX) Price Target Raised to $252.00

IDEX (NYSE:IEX) had its price objective boosted by Oppenheimer from $245.00 to $252.00 in a report issued on Thursday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

A number of other analysts have also recently weighed in on the company. Royal Bank of Canada restated an outperform rating and issued a $255.00 price target on shares of IDEX in a research note on Thursday, March 21st. Citigroup raised their price target on IDEX from $254.00 to $277.00 and gave the company a buy rating in a research note on Monday, April 8th. StockNews.com upgraded IDEX from a hold rating to a buy rating in a research note on Tuesday. Finally, Stifel Nicolaus upgraded IDEX from a hold rating to a buy rating and raised their price target for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $238.78.

IDEX Trading Down 0.3 %

IEX opened at $226.10 on Thursday. The firm has a market cap of $17.11 billion, a P/E ratio of 28.84, a P/E/G ratio of 2.27 and a beta of 0.97. The business has a fifty day simple moving average of $236.43 and a 200-day simple moving average of $215.88. IDEX has a 52 week low of $183.76 and a 52 week high of $246.36. The company has a quick ratio of 2.05, a current ratio of 2.89 and a debt-to-equity ratio of 0.37.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.05. The firm had revenue of $788.90 million during the quarter, compared to analyst estimates of $767.96 million. IDEX had a return on equity of 18.56% and a net margin of 18.21%. IDEX’s revenue was down 2.7% compared to the same quarter last year. During the same period last year, the business posted $2.01 earnings per share. On average, equities analysts expect that IDEX will post 8.34 earnings per share for the current year.

Institutional Trading of IDEX

Hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. increased its position in IDEX by 34.2% in the 1st quarter. American Century Companies Inc. now owns 3,251 shares of the industrial products company’s stock valued at $623,000 after acquiring an additional 829 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in IDEX in the 1st quarter valued at approximately $1,058,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in IDEX by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,173 shares of the industrial products company’s stock valued at $1,950,000 after purchasing an additional 630 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in IDEX by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 16,223 shares of the industrial products company’s stock valued at $3,110,000 after purchasing an additional 555 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in IDEX by 24.2% in the 1st quarter. Sei Investments Co. now owns 82,824 shares of the industrial products company’s stock valued at $15,877,000 after purchasing an additional 16,117 shares in the last quarter. Institutional investors and hedge funds 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.