IDEX Co. (NYSE:IEX) Given Consensus Rating of “Moderate Buy” by Brokerages

IDEX Co. (NYSE:IEX) has earned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $241.71.

Several analysts recently weighed in on IEX shares. Citigroup lowered their price objective on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. Stifel Nicolaus boosted their price target on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. DA Davidson dropped 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, Royal Bank of Canada decreased their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, February 6th.

Institutional Trading of IDEX

A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its position in IDEX by 108.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock worth $607,234,000 after acquiring an additional 1,472,456 shares during the period. Norges Bank bought a new stake in shares of IDEX during the fourth quarter valued at about $217,658,000. Price T Rowe Associates Inc. MD lifted its holdings in 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 purchasing an additional 277,964 shares during the period. Allianz Asset Management GmbH grew its position in IDEX by 133.2% in 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 buying an additional 232,255 shares in the last quarter. Finally, Corient Private Wealth LLC increased its stake in IDEX by 237.1% during the 4th quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company’s stock valued at $53,740,000 after buying an additional 180,601 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Performance

IDEX stock opened at $161.89 on Friday. IDEX has a 52 week low of $153.36 and a 52 week high of $241.97. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. The stock has a market cap of $12.23 billion, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. The stock has a 50 day moving average of $189.23 and a 200-day moving average of $207.55.

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

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.