Robert W. Baird Trims IDEX (NYSE:IEX) Target Price to $256.00

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

Other analysts also recently issued research reports about the company. Oppenheimer raised their price objective on IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a research report on Thursday, April 18th. Stifel Nicolaus upgraded IDEX from a hold rating to a buy rating and raised their price objective for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Citigroup raised their price objective on IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research report on Monday, April 8th. Royal Bank of Canada reiterated an outperform rating and issued a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. Finally, StockNews.com downgraded IDEX from a buy rating to a hold rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, IDEX presently has an average rating of Moderate Buy and a consensus price target of $241.67.

IDEX Stock Performance

IEX opened at $220.66 on Thursday. The firm has a market capitalization of $16.70 billion, a P/E ratio of 29.03, a price-to-earnings-growth ratio of 2.20 and a beta of 0.97. The stock’s 50 day moving average price is $236.36 and its two-hundred day moving average price is $216.75. The company has a quick ratio of 2.05, a current ratio of 3.37 and a debt-to-equity ratio of 0.37. IDEX has a 12-month low of $183.76 and a 12-month high of $246.36.

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

Hedge Funds Weigh In On IDEX

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in IDEX in the 4th quarter valued at $237,425,000. Alecta Tjanstepension Omsesidigt raised its position in IDEX by 420.8% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock valued at $169,600,000 after purchasing an additional 631,172 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in IDEX by 4,080.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 313,725 shares of the industrial products company’s stock valued at $68,113,000 after purchasing an additional 306,221 shares during the last quarter. Ameriprise Financial Inc. raised its position in IDEX by 316.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 368,849 shares of the industrial products company’s stock valued at $76,667,000 after purchasing an additional 280,385 shares during the last quarter. Finally, Maren Capital LLC bought a new position in IDEX in the 4th quarter valued at $49,789,000. Institutional investors own 97.96% of the company’s stock.

About IDEX

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.