Robert W. Baird Lowers IDEX (NYSE:IEX) Price Target to $241.00

by · The Markets Daily

IDEX (NYSE:IEX – Get Free Report) had its target price lowered by equities research analysts at Robert W. Baird from $245.00 to $241.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price objective indicates a potential upside of 11.55% from the company’s previous close.

Several other research firms also recently commented on IEX. Oppenheimer reduced their price objective on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Stifel Nicolaus increased their price target on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. TD Cowen dropped their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. StockNews.com cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $241.14.

Read Our Latest Research Report on IEX

IDEX Price Performance

IEX stock opened at $216.05 on Thursday. The company has a current ratio of 2.97, a quick ratio of 2.52 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $16.35 billion, a P/E ratio of 33.44, a PEG ratio of 2.32 and a beta of 0.95. The business has a 50 day simple moving average of $207.06 and a 200-day simple moving average of $207.65. IDEX has a twelve month low of $189.33 and a twelve month high of $246.36.

IDEX (NYSE:IEX – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. During the same quarter in the prior year, the business earned $2.12 EPS. IDEX’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts anticipate that IDEX will post 7.86 EPS for the current year.

Institutional Investors Weigh In On IDEX

Several institutional investors have recently modified their holdings of IEX. Price T Rowe Associates Inc. MD raised its holdings in IDEX by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock worth $1,943,609,000 after purchasing an additional 555,250 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of IDEX by 9,424.6% during the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock worth $211,473,000 after buying an additional 1,021,439 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of IDEX by 75.6% in the 2nd quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock worth $104,179,000 after buying an additional 223,422 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in IDEX by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 470,672 shares of the industrial products company’s stock valued at $94,698,000 after acquiring an additional 78,551 shares during the last quarter. Finally, Ceredex Value Advisors LLC increased its holdings in IDEX by 4.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 436,550 shares of the industrial products company’s stock valued at $93,640,000 after acquiring an additional 20,175 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Company Profile

(Get Free Report)

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.

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