IDEX (NYSE:IEX) PT Raised to $252.00

IDEX (NYSE:IEX) had its price target upped by equities researchers at Oppenheimer from $245.00 to $252.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s target price points to a potential upside of 10.99% from the company’s current price.

IEX has been the topic of a number of other research reports. Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and raised their target price for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Citigroup lifted their price target on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.78.

IDEX Stock Performance

Shares of IDEX stock opened at $227.04 on Thursday. IDEX has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.89 and a quick ratio of 2.05. The firm has a market capitalization of $17.18 billion, a P/E ratio of 28.96, a P/E/G ratio of 2.27 and a beta of 0.97. The company’s 50 day moving average price is $236.41 and its two-hundred day moving average price is $216.02.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.05. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The firm had revenue of $788.90 million for the quarter, compared to analyst estimates of $767.96 million. During the same quarter last year, the business posted $2.01 earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts forecast that IDEX will post 8.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEX

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in IDEX by 0.6% in the first quarter. Vanguard Group Inc. now owns 8,802,857 shares of the industrial products company’s stock valued at $1,687,772,000 after buying an additional 53,138 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in IDEX by 12.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,409,706 shares of the industrial products company’s stock valued at $1,608,722,000 after buying an additional 833,772 shares during the period. Wellington Management Group LLP lifted its holdings in IDEX by 3.9% in the first quarter. Wellington Management Group LLP now owns 3,106,765 shares of the industrial products company’s stock valued at $595,660,000 after buying an additional 117,605 shares during the period. Impax Asset Management Group plc lifted its holdings in IDEX by 4.0% in the fourth quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock valued at $475,632,000 after buying an additional 84,502 shares during the period. Finally, Morgan Stanley lifted its holdings in IDEX by 274.1% in the fourth quarter. Morgan Stanley now owns 2,151,334 shares of the industrial products company’s stock valued at $491,214,000 after buying an additional 1,576,263 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

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.