Citigroup Has Lowered Expectations for IDEX (NYSE:IEX) Stock Price

IDEX (NYSE:IEX) had its price objective lowered by equities researchers at Citigroup from $264.00 to $201.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price target would indicate a potential upside of 20.13% from the stock’s current price.

Several other brokerages have also commented on IEX. Stifel Nicolaus decreased their price target on IDEX from $256.00 to $192.00 and set a “buy” rating on the stock in a research note on Monday. Royal Bank of Canada reduced their target price on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Finally, DA Davidson cut their price target on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $223.14.

IDEX Trading Down 1.5 %

Shares of IDEX stock opened at $167.32 on Monday. The company has a market cap of $12.64 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 1.98 and a beta of 1.05. IDEX has a 1 year low of $153.36 and a 1 year high of $238.22. The company’s fifty day simple moving average is $183.98 and its 200-day simple moving average is $205.84. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. As a group, sell-side analysts expect that IDEX will post 8.26 EPS for the current year.

Institutional Trading of IDEX

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in IDEX by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 9,306,008 shares of the industrial products company’s stock valued at $1,947,654,000 after buying an additional 63,432 shares during the period. Wellington Management Group LLP increased its stake in IDEX by 49.1% during the 4th quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company’s stock worth $883,119,000 after purchasing an additional 1,388,667 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of IDEX by 8.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company’s stock worth $767,421,000 after acquiring an additional 277,964 shares during the period. Geode Capital Management LLC raised its stake in shares of IDEX by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,912,933 shares of the industrial products company’s stock valued at $399,350,000 after purchasing an additional 21,758 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its stake in IDEX by 0.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,868,919 shares of the industrial products company’s stock valued at $391,147,000 after acquiring an additional 17,087 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

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.