Seaport Res Ptn Comments on IDEX Co.’s Q2 2022 Earnings (NYSE:IEX)

IDEX Co. (NYSE:IEXGet Rating) – Seaport Res Ptn decreased their Q2 2022 earnings per share (EPS) estimates for IDEX in a report released on Thursday, April 28th. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will earn $1.86 per share for the quarter, down from their previous forecast of $1.92. Seaport Res Ptn also issued estimates for IDEX’s Q3 2022 earnings at $1.91 EPS and Q4 2022 earnings at $1.90 EPS.

IDEX (NYSE:IEXGet Rating) last announced its earnings results on Tuesday, April 26th. The industrial products company reported $1.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.22. IDEX had a net margin of 16.65% and a return on equity of 18.61%. During the same period in the prior year, the business earned $1.51 earnings per share.

IEX has been the topic of several other reports. Sanford C. Bernstein began coverage on shares of IDEX in a report on Monday, January 10th. They issued a “market perform” rating and a $230.00 target price on the stock. Cowen raised shares of IDEX from a “market perform” rating to an “outperform” rating and set a $220.00 price objective on the stock in a research report on Wednesday, March 9th. Loop Capital dropped their target price on shares of IDEX from $225.00 to $210.00 in a research report on Monday, April 4th. StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Stifel Nicolaus cut their price target on shares of IDEX from $244.00 to $231.00 and set a “buy” rating for the company in a report on Monday, April 18th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, IDEX has an average rating of “Buy” and an average target price of $230.50.

IEX stock opened at $189.82 on Monday. The stock has a market capitalization of $14.45 billion, a P/E ratio of 30.47, a P/E/G ratio of 2.11 and a beta of 1.11. The firm has a 50-day simple moving average of $192.95 and a 200-day simple moving average of $212.30. The company has a quick ratio of 2.72, a current ratio of 3.59 and a debt-to-equity ratio of 0.41. IDEX has a 52 week low of $181.66 and a 52 week high of $240.33.

A number of large investors have recently added to or reduced their stakes in the business. CVA Family Office LLC bought a new stake in shares of IDEX during the fourth quarter worth approximately $27,000. Bell Investment Advisors Inc acquired a new position in IDEX during the third quarter worth $25,000. Allworth Financial LP lifted its stake in IDEX by 1,072.7% in the first quarter. Allworth Financial LP now owns 129 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 118 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in IDEX in the fourth quarter valued at $31,000. Finally, Riverview Trust Co acquired a new stake in IDEX in the first quarter valued at $27,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

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.

See Also

Earnings History and Estimates for IDEX (NYSE:IEX)

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