IDEX (NYSE:IEX) Raised to Buy at StockNews.com

StockNews.com upgraded shares of IDEX (NYSE:IEX) from a hold rating to a buy rating in a report released on Tuesday morning.

A number of other research analysts have also recently commented on IEX. Royal Bank of Canada restated an outperform rating and issued a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Citigroup raised their price target on IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus upgraded IDEX from a hold rating to a buy rating and raised their price target for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, IDEX has an average rating of Moderate Buy and a consensus target price of $238.78.

IDEX Stock Down 0.3 %

IEX stock opened at $226.10 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.89 and a quick ratio of 2.05. The stock has a market capitalization of $17.11 billion, a price-to-earnings ratio of 28.84, a PEG ratio of 2.29 and a beta of 0.97. The business’s fifty day moving average price is $236.43 and its two-hundred day moving average price is $215.88. IDEX has a fifty-two week low of $183.76 and a fifty-two week high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.05. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The firm had revenue of $788.90 million for the quarter, compared to analysts’ expectations of $767.96 million. During the same quarter last year, the business earned $2.01 EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities analysts anticipate that IDEX will post 8.35 earnings per share for the current year.

Hedge Funds Weigh In On IDEX

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pathstone Family Office LLC lifted its stake in shares of IDEX by 1.2% in the fourth quarter. Pathstone Family Office LLC now owns 3,703 shares of the industrial products company’s stock worth $846,000 after acquiring an additional 45 shares during the period. BOKF NA lifted its stake in shares of IDEX by 0.3% in the fourth quarter. BOKF NA now owns 13,550 shares of the industrial products company’s stock worth $2,942,000 after acquiring an additional 45 shares during the period. Avior Wealth Management LLC lifted its stake in shares of IDEX by 2.3% in the third quarter. Avior Wealth Management LLC now owns 2,210 shares of the industrial products company’s stock worth $460,000 after acquiring an additional 49 shares during the period. Ronald Blue Trust Inc. lifted its stake in shares of IDEX by 7.7% in the third quarter. Ronald Blue Trust Inc. now owns 701 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 50 shares during the period. Finally, CWM LLC lifted its stake in shares of IDEX by 3.1% in the third quarter. CWM LLC now owns 1,719 shares of the industrial products company’s stock worth $358,000 after acquiring an additional 52 shares during the period. 97.96% of the stock is owned by institutional investors and hedge funds.

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.