Brokerages Set IDEX Co. (NYSE:IEX) Price Target at $241.71

IDEX Co. (NYSE:IEX) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $241.71.

IEX has been the subject of a number of recent research reports. Citigroup reduced their target price on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. DA Davidson dropped their target price on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada lowered their price target on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Finally, Stifel Nicolaus upped their price objective on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th.

IDEX Trading Down 3.8 %

IEX opened at $162.33 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The stock’s fifty day moving average is $192.73 and its two-hundred day moving average is $208.54. The company has a market capitalization of $12.26 billion, a P/E ratio of 24.41, a PEG ratio of 1.98 and a beta of 1.05. IDEX has a 52 week low of $160.13 and a 52 week high of $241.97.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. Analysts forecast that IDEX will post 8.26 earnings per share for the current year.

Institutional Investors Weigh In On IDEX

A number of institutional investors have recently modified their holdings of IEX. Wellington Management Group LLP raised its holdings in IDEX by 108.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock valued at $607,234,000 after acquiring an additional 1,472,456 shares during the last quarter. Norges Bank acquired a new position in IDEX in the 4th quarter valued at about $217,658,000. Price T Rowe Associates Inc. MD grew its stake in shares of IDEX by 8.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company’s stock worth $767,421,000 after acquiring an additional 277,964 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in IDEX by 133.2% during the 4th quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company’s stock worth $85,105,000 after purchasing an additional 232,255 shares during the period. Finally, Corient Private Wealth LLC lifted its stake in IDEX by 237.1% in the fourth quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company’s stock worth $53,740,000 after acquiring an additional 180,601 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

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.