StockNews.com Begins Coverage on IDEX (NYSE:IEX)

Research analysts at StockNews.com started coverage on shares of IDEX (NYSE:IEX – Get Rating) in a report released on Thursday. The firm set a “hold” rating on the industrial products company’s stock.

Several other equities analysts have also recently weighed in on IEX. Morgan Stanley raised their price target on shares of IDEX from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, January 18th. Stifel Nicolaus raised their price target on shares of IDEX from $241.00 to $242.00 and gave the company a “hold” rating in a research report on Friday, January 20th. Robert W. Baird raised their price target on shares of IDEX from $227.00 to $255.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Citigroup dropped their price target on shares of IDEX from $273.00 to $268.00 and set a “buy” rating on the stock in a research report on Thursday, February 2nd. Finally, Oppenheimer raised their price target on shares of IDEX from $245.00 to $247.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $239.91.

IDEX Stock Performance

Shares of IEX opened at $215.80 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.57 and a quick ratio of 1.71. The stock has a 50-day moving average of $228.73 and a 200-day moving average of $222.09. The company has a market cap of $16.30 billion, a PE ratio of 27.99, a P/E/G ratio of 2.13 and a beta of 0.99. IDEX has a one year low of $172.18 and a one year high of $246.23.

IDEX (NYSE:IEX – Get Rating) last issued its earnings results on Wednesday, February 1st. The industrial products company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.98 by $0.03. IDEX had a return on equity of 21.44% and a net margin of 18.44%. The company had revenue of $810.70 million during the quarter, compared to the consensus estimate of $772.75 million. During the same period last year, the business posted $1.55 EPS. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, equities research analysts predict that IDEX will post 8.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO William K. Grogan sold 3,181 shares of IDEX stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $226.36, for a total value of $720,051.16. Following the sale, the chief financial officer now owns 13,864 shares of the company’s stock, valued at approximately $3,138,255.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On IDEX

Hedge funds have recently modified their holdings of the stock. Parkside Financial Bank & Trust raised its holdings in shares of IDEX by 120.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 77 shares during the period. Allworth Financial LP grew its stake in IDEX by 491.2% in the 3rd quarter. Allworth Financial LP now owns 201 shares of the industrial products company’s stock valued at $40,000 after buying an additional 167 shares in the last quarter. General Partner Inc. purchased a new position in IDEX in the 4th quarter valued at approximately $46,000. SeaCrest Wealth Management LLC purchased a new position in IDEX in the 2nd quarter valued at approximately $49,000. Finally, Newfound Research LLC purchased a new position in IDEX in the 3rd quarter valued at approximately $59,000. Institutional investors own 96.58% of the company’s stock.

IDEX Company Profile

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IDEX Corp. engages in the provision of engineering solutions. It operates through the following segments: Fluid and Metering Technologies, Health and Science Technologies, and Fire and Safety or Diversified Products. The Fluid and Metering Technologies segment is involved in the design, production, and distribution of displacement pumps, valves, flow meters, injectors, and fluid-handling pump modules and systems.