IDEX (NYSE:IEX) Cut to “Hold” at StockNews.com

StockNews.com cut shares of IDEX (NYSE:IEX) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

IEX has been the subject of several other reports. Oppenheimer upped their price objective on IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a research note on Thursday, April 18th. Royal Bank of Canada reaffirmed an outperform rating and issued a $255.00 target price on shares of IDEX in a report on Thursday, March 21st. Citigroup upped their target price on shares of IDEX from $254.00 to $277.00 and gave the stock a buy rating in a report on Monday, April 8th. Finally, Stifel Nicolaus raised shares of IDEX from a hold rating to a buy rating and upped their target price for the stock from $215.00 to $265.00 in a report on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, IDEX currently has a consensus rating of Moderate Buy and a consensus price target of $238.78.

IDEX Price Performance

Shares of IEX opened at $224.64 on Wednesday. The company has a current ratio of 2.89, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37. The firm has a market cap of $17.00 billion, a PE ratio of 28.65, a P/E/G ratio of 2.30 and a beta of 0.97. IDEX has a 1-year low of $183.76 and a 1-year high of $246.36. The firm has a fifty day simple moving average of $236.58 and a two-hundred day simple moving average of $216.55.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.76 by $0.12. The firm had revenue of $801.00 million during the quarter, compared to analyst estimates of $807.52 million. IDEX had a return on equity of 18.56% and a net margin of 18.21%. IDEX’s revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.09 EPS. On average, equities analysts anticipate that IDEX will post 8.34 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverview Trust Co bought a new position in shares of IDEX during the 1st quarter valued at about $35,000. Planned Solutions Inc. bought a new position in shares of IDEX during the 4th quarter valued at about $33,000. Quarry LP bought a new position in shares of IDEX during the 4th quarter valued at about $36,000. EdgeRock Capital LLC bought a new position in shares of IDEX during the 4th quarter valued at about $48,000. Finally, VisionPoint Advisory Group LLC bought a new position in shares of IDEX in the 4th quarter valued at about $50,000. Institutional investors own 97.96% of the company’s stock.

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.