IDEX (NYSE:IEX) PT Raised to $252.00

IDEX (NYSE:IEX) had its price objective upped by equities researchers at Oppenheimer from $245.00 to $252.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s target price would suggest a potential upside of 10.99% from the company’s previous close.

IEX has been the subject of a number of other research reports. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Citigroup lifted their price objective on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, StockNews.com raised IDEX from a “hold” rating to a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.78.

IDEX Stock Performance

Shares of IDEX stock opened at $227.04 on Thursday. The stock has a market cap of $17.18 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 2.27 and a beta of 0.97. The business has a fifty day simple moving average of $236.41 and a 200-day simple moving average of $216.02. The company has a quick ratio of 2.05, a current ratio of 2.89 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 issued its earnings results on Tuesday, February 6th. The industrial products company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.78 by $0.05. The business had revenue of $788.90 million during the quarter, compared to analysts’ expectations of $767.96 million. IDEX had a return on equity of 18.56% and a net margin of 18.21%. IDEX’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.01 earnings per share. On average, sell-side analysts anticipate that IDEX will post 8.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IEX. Morgan Stanley boosted its holdings in shares of IDEX by 274.1% in the 4th quarter. Morgan Stanley now owns 2,151,334 shares of the industrial products company’s stock worth $491,214,000 after acquiring an additional 1,576,263 shares in the last quarter. Norges Bank acquired a new position in IDEX during the 4th quarter worth $237,425,000. Price T Rowe Associates Inc. MD lifted its holdings in IDEX by 12.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,409,706 shares of the industrial products company’s stock worth $1,608,722,000 after buying an additional 833,772 shares in the last quarter. Alecta Tjanstepension Omsesidigt lifted its holdings in IDEX by 420.8% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock worth $169,600,000 after buying an additional 631,172 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its holdings in IDEX by 4,080.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 313,725 shares of the industrial products company’s stock worth $68,113,000 after buying an additional 306,221 shares in the last quarter. 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.