IDEX (NYSE:IEX) Given “Maintains” Rating at Royal Bank of Canada

IDEX (NYSE:IEXGet Rating)‘s stock had its “maintains” rating reiterated by equities research analysts at Royal Bank of Canada in a note issued to investors on Thursday, Benzinga reports.

A number of other equities research analysts also recently weighed in on IEX. DA Davidson reissued a “neutral” rating on shares of IDEX in a report on Thursday, April 28th. raised shares of IDEX from a “hold” rating to a “buy” rating in a report on Friday, July 22nd. Citigroup upped their price target on shares of IDEX from $219.00 to $228.00 in a report on Thursday. Morgan Stanley reduced their price objective on shares of IDEX from $250.00 to $225.00 and set an “overweight” rating for the company in a research note on Thursday, June 9th. Finally, Oppenheimer raised shares of IDEX from a “market perform” rating to an “outperform” rating and set a $215.00 price objective for the company in a research note on Thursday, July 14th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, IDEX currently has an average rating of “Moderate Buy” and a consensus target price of $218.45.

IDEX Stock Performance

Shares of IDEX stock traded up $4.96 during trading on Thursday, hitting $204.68. 3,228 shares of the stock were exchanged, compared to its average volume of 439,977. The stock’s fifty day moving average is $186.08 and its 200 day moving average is $193.26. The stock has a market cap of $15.56 billion, a PE ratio of 32.83, a P/E/G ratio of 2.10 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.68 and a current ratio of 3.59. IDEX has a 12 month low of $172.18 and a 12 month high of $240.33.

IDEX (NYSE:IEXGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The industrial products company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.89 by $0.13. IDEX had a net margin of 16.65% and a return on equity of 18.61%. During the same quarter last year, the company earned $1.61 earnings per share. As a group, sell-side analysts anticipate that IDEX will post 7.66 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allworth Financial LP increased its stake in shares of IDEX by 1,072.7% in the first quarter. Allworth Financial LP now owns 129 shares of the industrial products company’s stock valued at $25,000 after buying an additional 118 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of IDEX in the fourth quarter valued at $31,000. Parkside Financial Bank & Trust increased its position in IDEX by 120.3% in the first quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 77 shares during the period. Riverview Trust Co acquired a new stake in IDEX in the first quarter worth about $27,000. Finally, Quent Capital LLC acquired a new stake in IDEX in the fourth quarter worth about $46,000. 96.95% 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.

Further Reading

Analyst Recommendations for IDEX (NYSE:IEX)

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