IDEX Co. (NYSE:IEX) Receives $233.50 Average Price Target from Analysts

IDEX Co. (NYSE:IEX) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $233.50.

IEX has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price target on shares of IDEX from $265.00 to $236.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Robert W. Baird lowered their price target on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Royal Bank of Canada dropped their target price on IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Argus downgraded shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th.

Institutional Investors Weigh In On IDEX

Institutional investors have recently bought and sold shares of the company. Riverview Trust Co acquired a new stake in IDEX in the 1st quarter valued at about $35,000. Quarry LP purchased a new stake in IDEX during the 4th quarter worth approximately $36,000. EdgeRock Capital LLC acquired a new stake in IDEX during the 2nd quarter worth approximately $41,000. Whittier Trust Co. boosted its position 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 buying an additional 58 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of IDEX by 31.0% in 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. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Price Performance

NYSE IEX opened at $208.73 on Monday. The firm’s fifty day simple moving average is $201.03 and its two-hundred day simple moving average is $213.48. The firm has a market capitalization of $15.80 billion, a P/E ratio of 27.46, a P/E/G ratio of 2.09 and a beta of 0.95. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 0.36. IDEX has a 12-month low of $183.76 and a 12-month high of $246.36.

IDEX (NYSE:IEX) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.02. The company had revenue of $807.20 million for the quarter, compared to analyst estimates of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.18 EPS. Analysts forecast that IDEX will post 7.88 EPS for the current fiscal year.

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a dividend of $0.69 per share. The ex-dividend date is Friday, October 11th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.32%. IDEX’s dividend payout ratio (DPR) is 36.32%.

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.