IDEX Co. (NYSE:IEX) Receives $238.78 Average Target Price from Brokerages

Shares of IDEX Co. (NYSE:IEX) have earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $238.78.

IEX has been the topic of several research reports. Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and boosted their target price for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. Oppenheimer boosted their price objective on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 target price on shares of IDEX in a research report on Thursday, March 21st. Citigroup boosted their price target on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a report on Wednesday.

IDEX Stock Up 1.1 %

Shares of IDEX stock opened at $232.37 on Friday. The business has a fifty day simple moving average of $236.63 and a 200 day simple moving average of $216.50. The stock has a market cap of $17.59 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 2.27 and a beta of 0.97. 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 has a 12 month low of $183.76 and a 12 month high of $246.36.

IDEX (NYSE:IEX) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.12. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The company had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. During the same period last year, the business posted $2.09 earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. Research analysts predict that IDEX will post 8.34 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Planned Solutions Inc. acquired a new position in IDEX during the 4th quarter worth about $33,000. Riverview Trust Co bought a new position in shares of IDEX during the first quarter worth about $35,000. Quarry LP bought a new position in shares of IDEX during the fourth quarter worth about $36,000. EdgeRock Capital LLC acquired a new position in shares of IDEX in the fourth quarter worth approximately $48,000. Finally, VisionPoint Advisory Group LLC bought a new stake in IDEX in the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

About IDEX

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.