IDEX (NYSE:IEX) Price Target Cut to $256.00 by Analysts at Robert W. Baird

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

A number of other analysts have also recently issued reports on the stock. Royal Bank of Canada restated an outperform rating and set a $255.00 target price on shares of IDEX in a research note on Thursday, March 21st. Stifel Nicolaus upgraded shares of IDEX from a hold rating to a buy rating and raised their target price for the stock from $215.00 to $265.00 in a research note on Thursday, February 8th. Oppenheimer raised their target price on shares of IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a research note on Thursday, April 18th. Citigroup raised their target price on shares of IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research note on Monday, April 8th. Finally, StockNews.com cut shares of IDEX from a buy rating to a hold rating in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, IDEX has an average rating of Moderate Buy and an average target price of $250.71.

IDEX Stock Performance

Shares of IEX stock opened at $220.66 on Thursday. The stock 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. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.05. The company has a fifty day moving average price of $236.36 and a two-hundred day moving average price of $216.80. IDEX has a one year low of $183.76 and a one year high of $246.36.

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

Hedge Funds Weigh In On IDEX

Several hedge funds have recently bought and sold shares of IEX. CWM LLC increased its holdings in IDEX by 3.1% in the 3rd quarter. CWM LLC now owns 1,719 shares of the industrial products company’s stock valued at $358,000 after buying an additional 52 shares during the period. Avior Wealth Management LLC grew its holdings in shares of IDEX by 2.3% during the 3rd quarter. Avior Wealth Management LLC now owns 2,210 shares of the industrial products company’s stock valued at $460,000 after purchasing an additional 49 shares during the last quarter. CreativeOne Wealth LLC bought a new stake in shares of IDEX during the 3rd quarter valued at approximately $321,000. Oak Thistle LLC bought a new stake in shares of IDEX during the 3rd quarter valued at approximately $439,000. Finally, Czech National Bank grew its holdings in shares of IDEX by 47.7% during the 3rd quarter. Czech National Bank now owns 13,213 shares of the industrial products company’s stock valued at $2,749,000 after purchasing an additional 4,267 shares during the last quarter. 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.