DA Davidson Cuts IDEX (NYSE:IEX) Price Target to $215.00

IDEX (NYSE:IEX) had its target price decreased by DA Davidson from $225.00 to $215.00 in a report issued on Wednesday morning,Benzinga reports. DA Davidson currently has a neutral rating on the industrial products company’s stock. DA Davidson also issued estimates for IDEX’s Q1 2025 earnings at $1.64 EPS, FY2025 earnings at $8.20 EPS and FY2026 earnings at $9.05 EPS.

A number of other equities research analysts have also weighed in on the company. Royal Bank of Canada lowered their price objective on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Robert W. Baird lowered their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Stifel Nicolaus lifted their price objective on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Citigroup lowered their price objective on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $241.71.

IDEX Stock Performance

NYSE IEX opened at $192.96 on Wednesday. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. IDEX has a 52-week low of $189.51 and a 52-week high of $246.36. The business’s 50-day moving average price is $209.69 and its 200 day moving average price is $211.40. The firm has a market cap of $14.61 billion, a P/E ratio of 29.02, a P/E/G ratio of 2.00 and a beta of 0.97.

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

Institutional Investors Weigh In On IDEX

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Banque de Luxembourg S.A. acquired a new position in shares of IDEX during the 4th quarter worth approximately $27,000. Catalyst Capital Advisors LLC raised its position in shares of IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 59 shares during the last quarter. Assetmark Inc. acquired a new position in shares of IDEX during the 3rd quarter worth approximately $39,000. Quarry LP acquired a new position in shares of IDEX during the 4th quarter worth approximately $49,000. Finally, Brooklyn Investment Group acquired a new position in shares of IDEX during the 3rd quarter worth approximately $86,000. 97.96% of the stock is currently owned by institutional investors and hedge funds.

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.