IDEX (NYSE:IEX) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of IDEX (NYSE:IEX) from a buy rating to a hold rating in a research note published on Wednesday morning.

A number of other research firms also recently weighed in on IEX. Royal Bank of Canada restated an outperform rating and issued a $255.00 target price on shares of IDEX in a research report on Thursday, March 21st. Citigroup upped their target price on IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research report on Monday, April 8th. Stifel Nicolaus upgraded 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 report on Thursday, February 8th. Finally, Oppenheimer increased their price objective on IDEX from $245.00 to $252.00 and gave the company an outperform rating in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, IDEX presently has a consensus rating of Moderate Buy and a consensus price target of $241.67.

IDEX Stock Performance

Shares of IEX stock opened at $220.66 on Wednesday. The firm has a market capitalization of $16.70 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 2.23 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.05. IDEX has a 12-month low of $183.76 and a 12-month high of $246.36. The business has a 50 day simple moving average of $236.36 and a 200 day simple moving average of $216.69.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The firm 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 17.60% and a net margin of 17.89%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.09 earnings per share. On average, equities research analysts anticipate that IDEX will post 8.34 EPS for the current year.

Institutional Investors Weigh In On IDEX

Institutional investors and hedge funds have recently modified their holdings of the stock. Planned Solutions Inc. purchased a new stake in shares of IDEX in the fourth quarter valued at $33,000. Riverview Trust Co purchased a new stake in shares of IDEX in the first quarter valued at $35,000. Quarry LP purchased a new stake in shares of IDEX in the fourth quarter valued at $36,000. EdgeRock Capital LLC purchased a new stake in shares of IDEX in the fourth quarter valued at $48,000. Finally, VisionPoint Advisory Group LLC purchased a new stake in shares of IDEX in the fourth quarter valued at $50,000. 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.