IDEX (NYSE:IEX) had its target price upped by Stifel Nicolaus from $129.00 to $153.00 in a research note released on Tuesday morning, BenzingaRatingsTable reports. Stifel Nicolaus currently has a hold rating on the industrial products company’s stock.
A number of other brokerages also recently weighed in on IEX. Zacks Investment Research raised shares of IDEX from a sell rating to a hold rating in a research note on Monday, April 8th. Janney Montgomery Scott downgraded shares of IDEX from a buy rating to a neutral rating in a research note on Friday, March 29th. Boenning Scattergood reissued a hold rating on shares of IDEX in a research note on Wednesday, January 30th. Finally, Royal Bank of Canada raised shares of IDEX from a sector perform rating to an outperform rating and lifted their target price for the stock from $141.00 to $146.00 in a research note on Thursday, January 3rd. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. IDEX currently has a consensus rating of Hold and a consensus target price of $146.67.
IEX stock opened at $155.78 on Tuesday. The firm has a market cap of $11.84 billion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 2.66 and a beta of 1.29. IDEX has a 52-week low of $117.72 and a 52-week high of $159.10. The company has a quick ratio of 2.23, a current ratio of 3.00 and a debt-to-equity ratio of 0.43.
IDEX (NYSE:IEX) last announced its earnings results on Tuesday, January 29th. The industrial products company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.04. IDEX had a net margin of 16.53% and a return on equity of 20.82%. The business had revenue of $614.09 million during the quarter, compared to the consensus estimate of $617.72 million. During the same quarter last year, the firm earned $1.12 earnings per share. IDEX’s quarterly revenue was up 4.8% on a year-over-year basis. On average, research analysts predict that IDEX will post 5.73 EPS for the current year.
In related news, SVP Jeffrey D. Bucklew sold 2,255 shares of the business’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $143.02, for a total transaction of $322,510.10. Following the transaction, the senior vice president now directly owns 2,255 shares in the company, valued at $322,510.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael J. Yates sold 11,397 shares of the business’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $144.72, for a total transaction of $1,649,373.84. Following the transaction, the vice president now owns 26,590 shares in the company, valued at $3,848,104.80. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. DNB Asset Management AS boosted its stake in IDEX by 21.1% in the fourth quarter. DNB Asset Management AS now owns 16,069 shares of the industrial products company’s stock valued at $2,029,000 after acquiring an additional 2,804 shares during the last quarter. BTIM Corp. boosted its stake in IDEX by 10.1% in the fourth quarter. BTIM Corp. now owns 79,936 shares of the industrial products company’s stock valued at $10,093,000 after acquiring an additional 7,311 shares during the last quarter. FMR LLC boosted its stake in IDEX by 55.9% in the fourth quarter. FMR LLC now owns 1,733,558 shares of the industrial products company’s stock valued at $218,879,000 after acquiring an additional 621,397 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in IDEX in the fourth quarter valued at about $1,283,000. Finally, Morgan Stanley boosted its stake in IDEX by 32.8% in the third quarter. Morgan Stanley now owns 326,434 shares of the industrial products company’s stock valued at $49,181,000 after acquiring an additional 80,558 shares during the last quarter. Hedge funds and other institutional investors own 94.63% of the company’s stock.
IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, 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.
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