IDEX (NYSE:IEX) Downgraded to “Hold” at StockNews.com

StockNews.com lowered shares of IDEX (NYSE:IEX) from a buy rating to a hold rating in a report issued on Thursday.

A number of other research analysts also recently commented on the company. Oppenheimer increased their price target on IDEX from $245.00 to $252.00 and gave the company an outperform rating in a report on Thursday, April 18th. Citigroup lifted their price target on shares of IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research note on Monday, April 8th. Stifel Nicolaus upgraded shares of IDEX from a hold rating to a buy rating and increased their price objective for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. Royal Bank of Canada reissued an outperform rating and issued a $255.00 target price on shares of IDEX in a research report on Thursday, March 21st. Finally, Robert W. Baird reduced their price target on shares of IDEX from $260.00 to $256.00 and set an outperform rating on the stock in a research report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $250.71.

IDEX Stock Down 0.1 %

Shares of IEX traded down $0.21 during mid-day trading on Thursday, reaching $220.42. 405,389 shares of the stock traded hands, compared to its average volume of 354,231. The firm has a market cap of $16.68 billion, a price-to-earnings ratio of 29.00, a P/E/G ratio of 2.21 and a beta of 0.99. The stock has a fifty day simple moving average of $235.22 and a 200 day simple moving average of $217.25. 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 has a 12-month low of $183.76 and a 12-month high of $246.36.

IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.12. The firm had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.09 EPS. Sell-side analysts expect that IDEX will post 8.33 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEX

Institutional investors have recently modified their holdings of the business. Planned Solutions Inc. acquired a new position in IDEX in the fourth quarter valued at approximately $33,000. Riverview Trust Co acquired a new position in IDEX during the 1st quarter valued at approximately $35,000. Quarry LP bought a new position in IDEX during the 4th quarter worth $36,000. EdgeRock Capital LLC acquired a new stake in IDEX in the fourth quarter worth $48,000. Finally, VisionPoint Advisory Group LLC bought a new stake in IDEX in the fourth quarter valued at $50,000. Institutional investors own 97.96% of the company’s stock.

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.