IDEX (NYSE:IEX) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of IDEX (NYSE:IEXGet Rating) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

A number of other analysts have also weighed in on IEX. Stifel Nicolaus decreased their target price on shares of IDEX from $244.00 to $231.00 and set a buy rating on the stock in a report on Monday, April 18th. Citigroup upped their target price on shares of IDEX from $232.00 to $235.00 in a report on Thursday. Zacks Investment Research raised shares of IDEX from a hold rating to a buy rating and set a $213.00 target price on the stock in a report on Friday, February 4th. Cowen raised shares of IDEX from a market perform rating to an outperform rating and set a $220.00 price target for the company in a research note on Wednesday, March 9th. Finally, Mizuho cut their price target on shares of IDEX from $233.00 to $205.00 in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Buy and an average price target of $230.50.

IEX opened at $189.82 on Friday. The company has a market capitalization of $14.45 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 2.12 and a beta of 1.11. The company has a quick ratio of 2.72, a current ratio of 3.59 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $192.95 and a 200-day moving average price of $212.26. IDEX has a twelve month low of $181.66 and a twelve month high of $240.33.

IDEX (NYSE:IEXGet Rating) last posted its earnings results on Tuesday, April 26th. The industrial products company reported $1.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.22. IDEX had a net margin of 16.65% and a return on equity of 18.61%. During the same quarter last year, the firm posted $1.51 EPS. On average, sell-side analysts expect that IDEX will post 7.73 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Illinois Municipal Retirement Fund boosted its stake in shares of IDEX by 97.1% in the 1st quarter. Illinois Municipal Retirement Fund now owns 38,341 shares of the industrial products company’s stock valued at $7,351,000 after purchasing an additional 18,891 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of IDEX by 16.7% in the 1st quarter. Park Avenue Securities LLC now owns 1,611 shares of the industrial products company’s stock valued at $309,000 after purchasing an additional 230 shares in the last quarter. Toews Corp ADV purchased a new stake in IDEX during the 1st quarter valued at $383,000. First Bank & Trust boosted its position in IDEX by 65.5% during the 1st quarter. First Bank & Trust now owns 4,655 shares of the industrial products company’s stock valued at $892,000 after buying an additional 1,842 shares during the period. Finally, CCLA Investment Management Ltd boosted its position in IDEX by 3.6% during the 1st quarter. CCLA Investment Management Ltd now owns 365,212 shares of the industrial products company’s stock valued at $68,306,000 after buying an additional 12,548 shares during the period. 97.35% of the stock is owned by institutional investors.

About IDEX (Get Rating)

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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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