IDEX (NYSE:IEX) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

IDEX (NYSE:IEX) had its price objective hoisted by research analysts at Royal Bank of Canada from $236.00 to $248.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 14.79% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. Stifel Nicolaus boosted their price objective on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. DA Davidson dropped their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. TD Cowen reduced their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Argus downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $241.14.

IDEX Stock Up 0.7 %

IEX stock opened at $216.05 on Thursday. IDEX has a 1-year low of $189.33 and a 1-year high of $246.36. The stock has a market cap of $16.35 billion, a P/E ratio of 33.44, a P/E/G ratio of 2.32 and a beta of 0.95. The stock’s fifty day simple moving average is $207.06 and its two-hundred day simple moving average is $207.65. The company has a current ratio of 2.97, a quick ratio of 2.52 and a debt-to-equity ratio of 0.54.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The business had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. During the same quarter in the previous year, the firm posted $2.12 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. Analysts expect that IDEX will post 7.86 EPS for the current year.

Hedge Funds Weigh In On IDEX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Boston Trust Walden Corp grew its holdings in shares of IDEX by 3.3% during the second quarter. Boston Trust Walden Corp now owns 223,892 shares of the industrial products company’s stock worth $45,047,000 after purchasing an additional 7,222 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in IDEX by 247.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company’s stock worth $39,872,000 after buying an additional 141,064 shares in the last quarter. Qsemble Capital Management LP bought a new position in shares of IDEX in the 2nd quarter worth $3,627,000. SG Americas Securities LLC raised its position in shares of IDEX by 241.3% during the 1st quarter. SG Americas Securities LLC now owns 37,561 shares of the industrial products company’s stock valued at $9,166,000 after buying an additional 26,557 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of IDEX by 90.1% during the 1st quarter. BNP Paribas Financial Markets now owns 69,984 shares of the industrial products company’s stock worth $17,077,000 after acquiring an additional 33,162 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

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.