Robert W. Baird Trims IDEX (NYSE:IEX) Target Price to $256.00

IDEX (NYSE:IEX) had its price target trimmed by Robert W. Baird from $260.00 to $256.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

Several other research firms have also issued reports on IEX. Royal Bank of Canada reissued an outperform rating and set a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Stifel Nicolaus raised IDEX from a hold rating to a buy rating and upped their price target for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. StockNews.com downgraded IDEX from a buy rating to a hold rating in a research note on Wednesday. Oppenheimer upped their price objective on IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a research note on Thursday, April 18th. Finally, Citigroup upped 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, IDEX presently has a consensus rating of Moderate Buy and an average price target of $241.67.

IDEX Stock Performance

IEX stock opened at $220.66 on Thursday. The company has a current ratio of 3.37, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37. The firm has a market cap of $16.70 billion, a P/E ratio of 29.03, a P/E/G ratio of 2.20 and a beta of 0.97. IDEX has a 12-month low of $183.76 and a 12-month high of $246.36. The stock’s 50 day simple moving average is $236.36 and its 200 day simple moving average is $216.75.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.12. The business had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The business’s revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.09 EPS. As a group, equities research analysts predict that IDEX will post 8.33 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Planned Solutions Inc. bought a new position in shares of IDEX in the fourth quarter worth $33,000. Riverview Trust Co bought a new position in shares of IDEX in the first quarter worth $35,000. Quarry LP bought a new position in shares of IDEX in the fourth quarter worth $36,000. EdgeRock Capital LLC bought a new position in shares of IDEX in the fourth quarter worth $48,000. Finally, VisionPoint Advisory Group LLC bought a new position in shares of IDEX in the fourth quarter worth $50,000. Institutional investors own 97.96% of the company’s stock.

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.