IDEX (NYSE:IEX) Downgraded by StockNews.com

IDEX (NYSE:IEXGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other analysts have also recently issued reports on IEX. Zacks Investment Research raised IDEX from a “hold” rating to a “buy” rating and set a $213.00 target price for the company in a research note on Friday, February 4th. Cowen upgraded IDEX from a “market perform” rating to an “outperform” rating and set a $220.00 price target on the stock in a research note on Wednesday, March 9th. Citigroup lowered their price objective on IDEX from $269.00 to $248.00 in a research report on Thursday, February 3rd. Robert W. Baird decreased their price target on IDEX from $251.00 to $233.00 in a research report on Thursday, February 3rd. Finally, Loop Capital decreased their price target on IDEX from $225.00 to $210.00 in a research report on Monday, April 4th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, IDEX currently has an average rating of “Buy” and a consensus price target of $235.15.

IEX traded down $1.14 during trading on Thursday, reaching $196.03. 289,360 shares of the company’s stock were exchanged, compared to its average volume of 460,946. IDEX has a fifty-two week low of $181.66 and a fifty-two week high of $240.33. The company has a quick ratio of 2.72, a current ratio of 3.50 and a debt-to-equity ratio of 0.42. The business has a 50 day moving average price of $192.80 and a 200 day moving average price of $213.05. The company has a market capitalization of $14.92 billion, a P/E ratio of 33.34, a PEG ratio of 2.10 and a beta of 1.11.

IDEX (NYSE:IEXGet Rating) last issued its quarterly earnings results on Tuesday, February 1st. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.59 by ($0.04). The company had revenue of $714.80 million for the quarter, compared to analyst estimates of $705.84 million. IDEX had a return on equity of 17.82% and a net margin of 16.26%. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the company earned $1.37 EPS. As a group, research analysts forecast that IDEX will post 7.55 EPS for the current year.

Hedge funds have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. boosted its position in shares of IDEX by 0.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 69,239 shares of the industrial products company’s stock valued at $10,506,000 after buying an additional 301 shares during the last quarter. Signaturefd LLC boosted its position in shares of IDEX by 15.0% during the third quarter. Signaturefd LLC now owns 345 shares of the industrial products company’s stock valued at $71,000 after buying an additional 45 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of IDEX by 27.8% during the third quarter. Commonwealth Equity Services LLC now owns 3,373 shares of the industrial products company’s stock valued at $698,000 after buying an additional 734 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of IDEX by 76.3% during the third quarter. SG Americas Securities LLC now owns 5,754 shares of the industrial products company’s stock valued at $1,191,000 after buying an additional 2,491 shares during the last quarter. Finally, ING Groep NV boosted its position in shares of IDEX by 2.3% during the third quarter. ING Groep NV now owns 6,380 shares of the industrial products company’s stock valued at $1,320,000 after buying an additional 144 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

IDEX Company Profile (Get Rating)

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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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