IDEX Co. (NYSE:IEX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

IDEX Co. (NYSE:IEX) has received a consensus rating of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $250.71.

A number of brokerages have recently issued reports on IEX. Oppenheimer lifted their price objective on shares of IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price objective on shares of IDEX in a report on Thursday, March 21st. Robert W. Baird reduced their price objective on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Citigroup lifted their price objective on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a report on Saturday, May 18th.

IDEX Trading Up 0.3 %

NYSE:IEX opened at $196.41 on Wednesday. The company has a current ratio of 3.37, a quick ratio of 2.45 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $14.87 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 2.02 and a beta of 0.96. The firm has a fifty day simple moving average of $211.78 and a two-hundred day simple moving average of $221.06. IDEX has a 12 month low of $183.76 and a 12 month high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The business had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the company posted $2.09 earnings per share. Analysts expect that IDEX will post 8.31 EPS for the current fiscal year.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Friday, July 12th. IDEX’s payout ratio is currently 36.32%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IEX. LPL Financial LLC raised its position in IDEX by 36.5% in the third quarter. LPL Financial LLC now owns 17,407 shares of the industrial products company’s stock worth $3,621,000 after acquiring an additional 4,652 shares during the period. Federated Hermes Inc. raised its position in IDEX by 49.0% in the third quarter. Federated Hermes Inc. now owns 447 shares of the industrial products company’s stock worth $93,000 after acquiring an additional 147 shares during the period. O Shaughnessy Asset Management LLC raised its position in IDEX by 76.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 3,648 shares of the industrial products company’s stock worth $759,000 after acquiring an additional 1,582 shares during the period. Truist Financial Corp raised its position in IDEX by 10.3% in the third quarter. Truist Financial Corp now owns 65,918 shares of the industrial products company’s stock worth $13,712,000 after acquiring an additional 6,129 shares during the period. Finally, AXQ Capital LP bought a new stake in IDEX in the third quarter worth about $366,000. 97.96% of the stock is owned by institutional investors.

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.