IDEX (NYSE:IEX – Free Report) had its price target increased by Oppenheimer from $245.00 to $252.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.
Several other equities research analysts also recently commented on the company. StockNews.com raised IDEX from a hold rating to a buy rating in a report on Tuesday. Stifel Nicolaus raised IDEX from a hold rating to a buy rating and boosted their target price for the stock from $215.00 to $265.00 in a report on Thursday, February 8th. Royal Bank of Canada reaffirmed an outperform rating and set a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Finally, Citigroup upped their price target on IDEX from $254.00 to $277.00 and gave the company a buy rating in a report on Monday, April 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $238.78.
View Our Latest Stock Report on IEX
IDEX Price Performance
IDEX (NYSE:IEX – Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.05. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The company had revenue of $788.90 million for the quarter, compared to analysts’ expectations of $767.96 million. During the same period in the prior year, the firm earned $2.01 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Research analysts expect that IDEX will post 8.34 EPS for the current fiscal year.
Institutional Investors Weigh In On IDEX
Several institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust lifted 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 acquiring an additional 77 shares during the last quarter. Riverview Trust Co bought a new stake in shares of IDEX during the 1st quarter worth approximately $35,000. Clear Street Markets LLC lifted its stake in shares of IDEX by 94.7% during the 1st quarter. Clear Street Markets LLC now owns 148 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 72 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of IDEX during the 4th quarter worth approximately $33,000. Finally, Quarry LP bought a new stake in shares of IDEX during the 4th quarter worth approximately $36,000. 97.96% of the stock is owned by institutional investors.
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.
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