IDEX (NYSE:IEX) Price Target Raised to $269.00

IDEX (NYSE:IEX) had its target price raised by investment analysts at Citigroup from $251.00 to $269.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective points to a potential upside of 17.23% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada lifted their price objective on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research report on Friday. Robert W. Baird reduced their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Stifel Nicolaus increased their price target on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Argus downgraded shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $241.43.

IDEX Stock Down 0.1 %

Shares of NYSE:IEX traded down $0.25 during midday trading on Monday, reaching $229.46. The company had a trading volume of 201,844 shares, compared to its average volume of 482,432. IDEX has a 1-year low of $189.51 and a 1-year high of $246.36. The stock has a market cap of $17.37 billion, a PE ratio of 35.52, a P/E/G ratio of 2.43 and a beta of 0.96. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average price is $219.43 and its 200 day moving average price is $208.38.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. During the same quarter in the previous year, the firm earned $2.12 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. Research analysts forecast that IDEX will post 7.89 EPS for the current fiscal year.

Institutional Trading of IDEX

A number of institutional investors and hedge funds have recently made changes to their positions in IEX. Cetera Investment Advisers boosted its position in IDEX by 301.3% during the 1st quarter. Cetera Investment Advisers now owns 6,902 shares of the industrial products company’s stock worth $1,684,000 after buying an additional 5,182 shares during the period. CWM LLC increased its holdings in IDEX by 6.4% in the second quarter. CWM LLC now owns 1,869 shares of the industrial products company’s stock valued at $376,000 after purchasing an additional 113 shares during the period. Czech National Bank raised its position in IDEX by 8.4% during the 2nd quarter. Czech National Bank now owns 14,424 shares of the industrial products company’s stock worth $2,902,000 after purchasing an additional 1,118 shares during the last quarter. Diversified Trust Co lifted its holdings in IDEX by 39.5% during the 2nd quarter. Diversified Trust Co now owns 4,797 shares of the industrial products company’s stock worth $965,000 after buying an additional 1,358 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of IDEX by 3.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,218 shares of the industrial products company’s stock valued at $446,000 after buying an additional 69 shares during the last quarter. 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.