IDEX Co. (NYSE:IEX) Receives $243.14 Average Target Price from Analysts

IDEX Co. (NYSE:IEXGet Free Report) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $243.14.

IEX has been the subject of several research analyst reports. Stifel Nicolaus boosted their target price on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Citigroup increased their price target on IDEX from $251.00 to $269.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Royal Bank of Canada upped their target price on IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Robert W. Baird reduced their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st.

Get Our Latest Report on IDEX

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Catalyst Capital Advisors LLC increased its holdings in IDEX by 73.8% during the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after buying an additional 59 shares during the last quarter. Assetmark Inc. bought a new position in shares of IDEX during the 3rd quarter worth $39,000. Whittier Trust Co. raised its stake in IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 58 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its stake in IDEX by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after buying an additional 100 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of IDEX by 31.0% during the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Trading Down 0.9 %

Shares of IEX stock opened at $211.11 on Wednesday. The stock has a 50 day simple moving average of $221.68 and a 200 day simple moving average of $209.42. IDEX has a 1 year low of $189.51 and a 1 year high of $246.36. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The stock has a market cap of $15.99 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 2.41 and a beta of 0.96.

IDEX (NYSE:IEXGet Free Report) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. During the same period last year, the firm earned $2.12 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, research analysts predict that IDEX will post 7.89 earnings per share for the current fiscal year.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.31%. IDEX’s dividend payout ratio is 42.72%.

About IDEX

(Get Free Report

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.

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Analyst Recommendations for IDEX (NYSE:IEX)

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