Brokerages Set IDEX Co. (NYSE:IEX) Price Target at $241.71

IDEX Co. (NYSE:IEX) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $241.71.

A number of research analysts have weighed in on the stock. Citigroup cut their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. Royal Bank of Canada cut their price target on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. DA Davidson lowered their price target on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Finally, Stifel Nicolaus boosted their price objective on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th.

IDEX Stock Performance

Shares of IEX stock opened at $182.47 on Monday. IDEX has a 52-week low of $177.71 and a 52-week high of $246.36. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The stock has a market cap of $13.83 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99. The business has a 50-day simple moving average of $202.65 and a 200-day simple moving average of $210.55.

IDEX (NYSE:IEX) last announced its quarterly earnings results 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%. On average, equities analysts expect that IDEX will post 8.26 EPS for the current year.

Institutional Trading of IDEX

A number of institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in IDEX by 108.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock valued at $607,234,000 after purchasing an additional 1,472,456 shares in the last quarter. Norges Bank acquired a new stake in shares of IDEX in the fourth quarter valued at about $217,658,000. Price T Rowe Associates Inc. MD lifted its stake in shares of IDEX by 8.2% in 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 buying an additional 277,964 shares in the last quarter. Champlain Investment Partners LLC boosted its position in IDEX by 28.8% during the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock worth $262,479,000 after acquiring an additional 273,460 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in IDEX by 133.2% during the 4th quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company’s stock valued at $85,105,000 after acquiring an additional 232,255 shares in the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

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.