IDEX Co. (NYSE:IEX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of IDEX Co. (NYSE:IEXGet Free Report) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $250.71.

A number of analysts have recently weighed in on IEX shares. Oppenheimer upped their target price on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 target price on shares of IDEX in a report on Thursday, March 21st. StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. Robert W. Baird lowered their price objective on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, Citigroup lifted their price target on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th.

Get Our Latest Analysis on IDEX

Hedge Funds Weigh In On IDEX

A number of hedge funds have recently modified their holdings of IEX. Albert D Mason Inc. raised its position in IDEX by 1.0% during the 1st quarter. Albert D Mason Inc. now owns 4,509 shares of the industrial products company’s stock worth $1,100,000 after purchasing an additional 45 shares during the last quarter. Czech National Bank raised its position in shares of IDEX by 0.5% during the first quarter. Czech National Bank now owns 13,306 shares of the industrial products company’s stock worth $3,247,000 after acquiring an additional 61 shares during the last quarter. DB Fitzpatrick & Co Inc lifted its stake in shares of IDEX by 2.4% in the fourth quarter. DB Fitzpatrick & Co Inc now owns 2,833 shares of the industrial products company’s stock worth $615,000 after acquiring an additional 67 shares during the period. Greenleaf Trust boosted its holdings in IDEX by 6.7% in the first quarter. Greenleaf Trust now owns 1,120 shares of the industrial products company’s stock valued at $273,000 after acquiring an additional 70 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. increased its position in IDEX by 25.6% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 388 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Down 0.8 %

IDEX stock opened at $201.69 on Friday. IDEX has a twelve month low of $183.76 and a twelve month high of $246.36. The stock has a market cap of $15.27 billion, a P/E ratio of 26.54, a P/E/G ratio of 2.08 and a beta of 0.99. The company’s 50-day moving average price is $223.86 and its two-hundred day moving average price is $221.01. The company has a quick ratio of 2.45, a current ratio of 3.37 and a debt-to-equity ratio of 0.37.

IDEX (NYSE:IEXGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.12. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The business had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. During the same period in the previous year, the company posted $2.09 EPS. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, analysts expect that IDEX will post 8.31 EPS for the current year.

IDEX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.37%. This is a positive change from IDEX’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Thursday, May 16th. IDEX’s payout ratio is presently 36.32%.

About IDEX

(Get Free Report

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.

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Analyst Recommendations for IDEX (NYSE:IEX)

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