IDEX (NYSE:IEX) Price Target Cut to $201.00 by Analysts at Citigroup

IDEX (NYSE:IEX) had its target price trimmed by Citigroup from $264.00 to $201.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Other analysts have also recently issued research reports about the stock. DA Davidson lowered their target price on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Stifel Nicolaus lowered their price objective on IDEX from $256.00 to $192.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Royal Bank of Canada cut their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $223.14.

IDEX Price Performance

Shares of IEX stock opened at $169.74 on Monday. The company has a market capitalization of $12.82 billion, a P/E ratio of 25.52, a P/E/G ratio of 1.98 and a beta of 1.05. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. IDEX has a 12 month low of $153.36 and a 12 month high of $238.22. The stock has a 50 day moving average of $184.61 and a two-hundred day moving average of $206.10.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bleakley Financial Group LLC lifted its stake in IDEX by 4.1% in the fourth quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock valued at $254,000 after buying an additional 48 shares in the last quarter. Albert D Mason Inc. increased its position in shares of IDEX by 1.3% during the fourth quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock worth $948,000 after acquiring an additional 56 shares in the last quarter. Diversified Trust Co raised its holdings in shares of IDEX by 1.0% during the fourth quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock worth $1,300,000 after acquiring an additional 59 shares during the period. Blackston Financial Advisory Group LLC lifted its position in IDEX by 2.7% in the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,299 shares of the industrial products company’s stock valued at $481,000 after acquiring an additional 60 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in IDEX by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,925 shares of the industrial products company’s stock worth $1,031,000 after purchasing an additional 61 shares during the period. 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.