Brokerages Set IDEX Co. (NYSE:IEX) PT at $233.50

by · The Cerbat Gem

Shares of IDEX Co. (NYSE:IEX – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $233.50.

IEX has been the subject of several analyst reports. Royal Bank of Canada lowered their price objective on IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Argus downgraded IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. DA Davidson cut their price objective on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Oppenheimer lowered their target price on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Finally, Robert W. Baird cut their price target on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd.

Get Our Latest Research Report on IDEX

IDEX Stock Down 0.8 %

Shares of IDEX stock opened at $208.73 on Monday. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. IDEX has a 52-week low of $183.76 and a 52-week high of $246.36. The company has a market capitalization of $15.80 billion, a P/E ratio of 27.46, a P/E/G ratio of 2.09 and a beta of 0.95. The company has a 50 day moving average of $201.03 and a 200 day moving average of $213.48.

IDEX (NYSE:IEX – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.02. The business had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.18 EPS. As a group, research analysts forecast that IDEX will post 7.88 EPS for the current fiscal year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a $0.69 dividend. The ex-dividend date is Friday, October 11th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.32%. IDEX’s payout ratio is 36.32%.

Hedge Funds Weigh In On IDEX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverview Trust Co purchased a new stake in IDEX during the 1st quarter valued at approximately $35,000. Quarry LP purchased a new stake in shares of IDEX during the fourth quarter worth approximately $36,000. EdgeRock Capital LLC acquired a new stake in shares of IDEX during the second quarter worth $41,000. Whittier Trust Co. grew its position in IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after buying an additional 58 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in IDEX by 31.0% in the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Company Profile

(Get Free Report

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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