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

IDEX (NYSE:IEX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other research firms have also recently issued reports on IEX. Oppenheimer raised 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 lifted their price objective on shares of 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 shares of IDEX from a “hold” rating to a “buy” rating and upped their price objective for the company from $215.00 to $265.00 in a report on Thursday, February 8th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $255.00 target price on shares of IDEX in a research note on Thursday, March 21st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $241.67.

IDEX Price Performance

Shares of IEX opened at $223.29 on Wednesday. The company has a current ratio of 2.89, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $236.49 and its 200 day simple moving average is $216.60. IDEX has a 1-year low of $183.76 and a 1-year high of $246.36. The company has a market cap of $16.90 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 2.32 and a beta of 0.97.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.88%. The company had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. During the same period in the previous year, the business earned $2.09 EPS. IDEX’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, research analysts forecast that IDEX will post 8.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEX

Institutional investors have recently modified their holdings of the business. Planned Solutions Inc. bought a new position in IDEX during the fourth quarter worth about $33,000. Riverview Trust Co bought a new position in shares of IDEX during the first quarter worth approximately $35,000. Quarry LP acquired a new stake in shares of IDEX in the fourth quarter valued at approximately $36,000. EdgeRock Capital LLC bought a new stake in shares of IDEX in the fourth quarter valued at approximately $48,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in IDEX during the fourth quarter worth approximately $50,000. Institutional investors 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.