StockNews.com Lowers IDEX (NYSE:IEX) to Hold

StockNews.com lowered shares of IDEX (NYSE:IEX) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

IEX has been the subject of a number of other reports. Stifel Nicolaus raised IDEX from a hold rating to a buy rating and upped their target price for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Royal Bank of Canada reaffirmed an outperform rating and set a $255.00 price objective on shares of IDEX in a research note on Thursday, March 21st. Citigroup upped their price objective on IDEX from $254.00 to $277.00 and gave the company a buy rating in a research note on Monday, April 8th. Finally, Oppenheimer upped their price objective on IDEX from $245.00 to $252.00 and gave the company an outperform rating in a research note on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, IDEX currently has an average rating of Moderate Buy and an average price target of $241.67.

IDEX Trading Down 1.2 %

IEX opened at $220.66 on Wednesday. IDEX has a 12 month low of $183.76 and a 12 month high of $246.36. The stock has a market capitalization of $16.70 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 2.23 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 business has a fifty day moving average price of $236.36 and a 200 day moving average price of $216.69.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.12. The business had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.09 EPS. Sell-side analysts expect that IDEX will post 8.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEX

A number of large investors have recently modified their holdings of IEX. Planned Solutions Inc. purchased a new position in shares of IDEX during the 4th quarter worth approximately $33,000. Riverview Trust Co purchased a new position in IDEX in the 1st quarter valued at approximately $35,000. Quarry LP purchased a new position in IDEX in the 4th quarter valued at approximately $36,000. EdgeRock Capital LLC purchased a new position in IDEX in the 4th quarter valued at approximately $48,000. Finally, VisionPoint Advisory Group LLC purchased a new position in IDEX in the 4th quarter valued at approximately $50,000. 97.96% of the stock is owned by hedge funds and other 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.