IDEX (NYSE:IEX) Price Target Lowered to $267.00 at Citigroup

IDEX (NYSE:IEX) had its price target reduced by analysts at Citigroup from $269.00 to $267.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective would suggest a potential upside of 28.19% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Royal Bank of Canada raised their price objective on IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Robert W. Baird decreased their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Stifel Nicolaus lifted their price target on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and an average price target of $242.86.

IDEX Price Performance

IDEX stock traded up $2.26 during trading on Monday, reaching $208.28. The company had a trading volume of 85,495 shares, compared to its average volume of 449,556. The firm’s 50-day simple moving average is $221.58 and its 200 day simple moving average is $209.95. IDEX has a 1-year low of $189.51 and a 1-year high of $246.36. The firm has a market capitalization of $15.77 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. The company had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $2.12 EPS. As a group, equities research analysts anticipate that IDEX will post 7.89 earnings per share for the current fiscal year.

Institutional Trading of IDEX

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Czech National Bank raised its holdings in IDEX by 6.5% in the 4th quarter. Czech National Bank now owns 16,419 shares of the industrial products company’s stock valued at $3,436,000 after buying an additional 998 shares during the period. Diversified Trust Co grew its position in IDEX by 1.0% in the 4th quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock valued at $1,300,000 after acquiring an additional 59 shares in the last quarter. Nordea Investment Management AB grew its position in IDEX by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 862,625 shares of the industrial products company’s stock valued at $181,272,000 after acquiring an additional 43,786 shares in the last quarter. Everence Capital Management Inc. acquired a new position in IDEX in the 4th quarter valued at about $341,000. Finally, GAMMA Investing LLC grew its position in IDEX by 416.0% in the 4th quarter. GAMMA Investing LLC now owns 614 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 495 shares in the last quarter. 97.96% of the stock is currently 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.