IDEX (NYSE:IEX) Stock Rating Lowered by StockNews.com

IDEX (NYSE:IEX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Several other research analysts have also recently weighed in on IEX. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 target price on shares of IDEX in a research note on Thursday, March 21st. Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and upped their target price for the company from $215.00 to $265.00 in a report on Thursday, February 8th. Citigroup upped their target price on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Oppenheimer upped their target price on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.78.

IDEX Trading Up 1.1 %

Shares of IEX stock opened at $232.37 on Wednesday. The stock has a 50-day simple moving average of $236.63 and a 200 day simple moving average of $216.50. IDEX has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The stock has a market capitalization of $17.59 billion, a P/E ratio of 29.64, a P/E/G ratio of 2.27 and a beta of 0.97. The company has a quick ratio of 2.05, a current ratio of 2.89 and a debt-to-equity ratio of 0.37.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.12. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The business had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $807.52 million. During the same quarter last year, the business posted $2.09 earnings per share. The company’s quarterly revenue was down 5.3% on a year-over-year basis. On average, sell-side analysts expect that IDEX will post 8.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEX

Several hedge funds have recently bought and sold shares of IEX. Planned Solutions Inc. purchased a new stake in IDEX in the 4th quarter worth about $33,000. Riverview Trust Co purchased a new stake in IDEX in the 1st quarter worth about $35,000. Quarry LP purchased a new stake in IDEX in the 4th quarter worth about $36,000. EdgeRock Capital LLC purchased a new stake in IDEX in the 4th quarter worth about $48,000. Finally, VisionPoint Advisory Group LLC acquired a new position in IDEX in the 4th quarter worth about $50,000. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Company Profile

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.