IDEX (NYSE:IEX) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of IDEX (NYSE:IEXFree Report) from a hold rating to a buy rating in a report issued on Saturday.

A number of other research firms have also issued reports on IEX. Oppenheimer boosted 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. Citigroup boosted their price objective on 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 reissued an outperform rating and issued a $255.00 price objective on shares of IDEX in a research note on Thursday, March 21st. Stifel Nicolaus raised IDEX from a hold rating to a buy rating and boosted their price objective for the stock from $215.00 to $265.00 in a research note on Thursday, February 8th. Finally, Robert W. Baird cut their target price on IDEX from $260.00 to $256.00 and set an outperform rating on the stock in a research report on Thursday, April 25th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, IDEX has an average rating of Moderate Buy and an average target price of $250.71.

Get Our Latest Report on IEX

IDEX Price Performance

IEX stock opened at $219.86 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. IDEX has a 1 year low of $183.76 and a 1 year high of $246.36. The firm has a market cap of $16.64 billion, a P/E ratio of 28.93, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99. The stock has a 50-day simple moving average of $232.08 and a 200-day simple moving average of $219.92.

IDEX (NYSE:IEXGet Free Report) last issued its quarterly earnings results 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. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The firm had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. During the same quarter in the prior year, the business posted $2.09 earnings per share. IDEX’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, equities analysts predict that IDEX will post 8.31 earnings per share for the current fiscal year.

IDEX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.69 per share. This is an increase from IDEX’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.26%. IDEX’s payout ratio is currently 36.32%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IEX. Commonwealth Equity Services LLC grew its holdings in shares of IDEX by 1.3% during the third quarter. Commonwealth Equity Services LLC now owns 4,289 shares of the industrial products company’s stock valued at $892,000 after buying an additional 53 shares in the last quarter. Fifth Third Bancorp grew its stake in IDEX by 6.7% in the third quarter. Fifth Third Bancorp now owns 1,780 shares of the industrial products company’s stock valued at $370,000 after purchasing an additional 111 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in IDEX by 25.4% in the third quarter. Orion Portfolio Solutions LLC now owns 13,250 shares of the industrial products company’s stock valued at $2,756,000 after purchasing an additional 2,684 shares in the last quarter. New Mexico Educational Retirement Board grew its stake in IDEX by 5.4% in the third quarter. New Mexico Educational Retirement Board now owns 3,900 shares of the industrial products company’s stock valued at $811,000 after purchasing an additional 200 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in IDEX by 37.4% in the third quarter. Daiwa Securities Group Inc. now owns 12,095 shares of the industrial products company’s stock valued at $2,516,000 after purchasing an additional 3,293 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

About IDEX

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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.

Further Reading

Analyst Recommendations for IDEX (NYSE:IEX)

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