Robert W. Baird Cuts IDEX (NYSE:IEX) Price Target to $256.00

IDEX (NYSE:IEX) had its price objective lowered by equities research analysts at Robert W. Baird from $260.00 to $256.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price objective suggests a potential upside of 13.96% from the company’s current price.

Other research analysts have also recently issued reports about the company. Citigroup boosted their target price on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Stifel Nicolaus raised 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. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 target price on shares of IDEX in a research note on Thursday, March 21st. StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Oppenheimer boosted their target price on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $241.67.

IDEX Trading Down 3.3 %

NYSE IEX opened at $224.64 on Thursday. The stock has a 50-day simple moving average of $236.58 and a 200 day simple moving average of $216.55. The company has a market capitalization of $17.00 billion, a PE ratio of 29.56, a P/E/G ratio of 2.32 and a beta of 0.97. The company has a current ratio of 2.89, a quick ratio of 2.05 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 released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. The business had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. IDEX had a return on equity of 17.88% and a net margin of 17.89%. The firm’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.09 earnings per share. Research analysts forecast that IDEX will post 8.34 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IEX. CWM LLC boosted its position in shares of IDEX by 3.1% during the third quarter. CWM LLC now owns 1,719 shares of the industrial products company’s stock worth $358,000 after buying an additional 52 shares during the period. Avior Wealth Management LLC boosted its position in IDEX by 2.3% during the third quarter. Avior Wealth Management LLC now owns 2,210 shares of the industrial products company’s stock valued at $460,000 after purchasing an additional 49 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in IDEX during the third quarter valued at approximately $321,000. Oak Thistle LLC acquired a new position in IDEX during the third quarter valued at approximately $439,000. Finally, Czech National Bank boosted its position in IDEX by 47.7% during the third quarter. Czech National Bank now owns 13,213 shares of the industrial products company’s stock valued at $2,749,000 after purchasing an additional 4,267 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

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.