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

IDEX (NYSE:IEX) had its price target cut by DA Davidson from $225.00 to $215.00 in a research note released on Wednesday,Benzinga reports. They currently have 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.

Several other analysts have also recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Citigroup lowered their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Robert W. Baird lowered their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, Stifel Nicolaus boosted their price objective on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.71.

IDEX Trading Down 1.6 %

Shares of IEX opened at $192.96 on Wednesday. The stock has a fifty day moving average of $209.69 and a two-hundred day moving average of $211.40. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53. The company has a market capitalization of $14.61 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 2.00 and a beta of 0.97. IDEX has a fifty-two week low of $189.51 and a fifty-two week high of $246.36.

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

Institutional Trading of IDEX

A number of institutional investors have recently added to or reduced their stakes in the business. Banque de Luxembourg S.A. purchased a new position in IDEX in the 4th quarter valued at about $27,000. Catalyst Capital Advisors LLC boosted its position in IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after buying an additional 59 shares during the last quarter. Assetmark Inc. purchased a new position in IDEX in the 3rd quarter valued at about $39,000. Quarry LP purchased a new position in IDEX in the 4th quarter valued at about $49,000. Finally, Brooklyn Investment Group purchased a new position in IDEX in the 3rd quarter valued at about $86,000. 97.96% of the stock is owned by hedge funds and other 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.