IDEX (NYSE:IEX) Rating Reiterated by DA Davidson

IDEX (NYSE:IEXGet Rating)‘s stock had its “neutral” rating reiterated by investment analysts at DA Davidson in a research note issued on Thursday, Zacks.com reports. DA Davidson also issued estimates for IDEX’s FY2023 earnings at $7.53 EPS.

Several other research firms also recently weighed in on IEX. Stifel Nicolaus decreased their price target on shares of IDEX from $244.00 to $231.00 and set a “buy” rating on the stock in a research note on Monday, April 18th. Loop Capital decreased their price target on shares of IDEX from $225.00 to $210.00 in a research note on Monday, April 4th. Mizuho decreased their price target on shares of IDEX from $233.00 to $205.00 in a research note on Thursday. Robert W. Baird decreased their price target on shares of IDEX from $251.00 to $233.00 in a research note on Thursday, February 3rd. Finally, Cowen raised shares of 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. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $232.00.

Shares of NYSE IEX opened at $195.94 on Thursday. The company’s 50-day simple moving average is $192.94 and its 200-day simple moving average is $212.37. IDEX has a 52-week low of $181.66 and a 52-week high of $240.33. The firm has a market cap of $14.91 billion, a price-to-earnings ratio of 33.32, a price-to-earnings-growth ratio of 2.16 and a beta of 1.11. The company has a quick ratio of 2.72, a current ratio of 3.50 and a debt-to-equity ratio of 0.42.

IDEX (NYSE:IEXGet Rating) last announced its earnings results on Tuesday, April 26th. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.22. IDEX had a net margin of 16.26% and a return on equity of 17.82%. During the same period last year, the business earned $1.51 EPS. Equities research analysts anticipate that IDEX will post 7.56 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in IEX. Norges Bank purchased a new stake in shares of IDEX in the 4th quarter valued at approximately $155,530,000. Impax Asset Management Group plc raised its stake in shares of IDEX by 9.0% in the 3rd quarter. Impax Asset Management Group plc now owns 3,235,347 shares of the industrial products company’s stock valued at $669,555,000 after acquiring an additional 266,327 shares during the period. BlackRock Inc. raised its stake in shares of IDEX by 3.7% in the 4th quarter. BlackRock Inc. now owns 6,060,157 shares of the industrial products company’s stock valued at $1,432,137,000 after acquiring an additional 218,305 shares during the period. Millennium Management LLC raised its stake in shares of IDEX by 648.3% in the 3rd quarter. Millennium Management LLC now owns 240,161 shares of the industrial products company’s stock valued at $49,701,000 after acquiring an additional 208,067 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of IDEX by 12.8% in the 3rd quarter. Alliancebernstein L.P. now owns 1,671,165 shares of the industrial products company’s stock valued at $345,848,000 after acquiring an additional 189,323 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

About IDEX (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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