IDEX Co. (NYSE:IEX) Receives $216.00 Average Target Price from Brokerages

IDEX Co. (NYSE:IEXGet Rating) has been given an average rating of “Moderate Buy” by the twelve brokerages that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $219.80.

Several equities analysts recently issued reports on the stock. StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a research report on Friday, July 22nd. Citigroup increased their price objective on shares of IDEX from $219.00 to $228.00 in a research report on Thursday, July 28th. Stifel Nicolaus lowered shares of IDEX from a “buy” rating to a “hold” rating and lowered their target price for the stock from $229.00 to $188.00 in a report on Monday, July 18th. Mizuho lifted their price objective on shares of IDEX from $190.00 to $205.00 and gave the company a “neutral” rating in a report on Monday, August 1st. Finally, Oppenheimer upgraded shares of IDEX from a “market perform” rating to an “outperform” rating and set a $215.00 price objective for the company in a report on Thursday, July 14th.

IDEX Price Performance

IEX stock opened at $211.93 on Wednesday. IDEX has a 1 year low of $172.18 and a 1 year high of $240.33. The stock has a market capitalization of $16.00 billion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.02 and a quick ratio of 2.13. The company’s 50-day moving average is $189.16 and its 200-day moving average is $192.57.

IDEX (NYSE:IEXGet Rating) last released its quarterly earnings data on Tuesday, July 26th. The industrial products company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. IDEX had a net margin of 17.24% and a return on equity of 19.50%. During the same period last year, the business posted $1.61 earnings per share. Equities research analysts expect that IDEX will post 7.94 EPS for the current fiscal year.

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, July 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.13%. IDEX’s dividend payout ratio is presently 35.82%.

Institutional Trading of IDEX

Hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in shares of IDEX by 1,072.7% during the first quarter. Allworth Financial LP now owns 129 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 118 shares during the period. Riverview Trust Co acquired a new position in shares of IDEX during the 1st quarter worth $27,000. Parkside Financial Bank & Trust raised its stake in shares of IDEX by 120.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock worth $27,000 after buying an additional 77 shares during the last quarter. Clear Street Markets LLC increased its position in IDEX by 416.1% during the 2nd quarter. Clear Street Markets LLC now owns 160 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 129 shares in the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new stake in IDEX during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 96.95% of the company’s stock.

IDEX Company Profile

(Get Rating)

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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

Recommended Stories

Analyst Recommendations for IDEX (NYSE:IEX)

Want More Great Investing Ideas?

Receive News & Ratings for IDEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX and related companies with MarketBeat.com's FREE daily email newsletter.