IDEX Co. (NYSE:IEX) Receives Average Recommendation of “Moderate Buy” from Analysts

by · The Markets Daily

IDEX Co. (NYSE:IEX – Get Free Report) has been given an average rating of “Moderate Buy” by the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $239.43.

IEX has been the topic of several recent research reports. Royal Bank of Canada reduced their target price on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird reduced their target price on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus raised their target price on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday. DA Davidson cut their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Finally, StockNews.com downgraded shares of IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th.

Read Our Latest Stock Analysis on IEX

IDEX Stock Down 0.3 %

Shares of NYSE:IEX opened at $209.87 on Friday. IDEX has a 12 month low of $183.76 and a 12 month high of $246.36. The company’s 50-day moving average price is $204.49 and its two-hundred day moving average price is $209.84. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. The firm has a market cap of $15.89 billion, a P/E ratio of 27.61, a P/E/G ratio of 2.20 and a beta of 0.95.

IDEX (NYSE:IEX – Get Free Report) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.02. The company had revenue of $807.20 million for the quarter, compared to analyst estimates of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.18 EPS. As a group, research analysts forecast that IDEX will post 7.88 EPS for the current fiscal year.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a $0.69 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.32%. IDEX’s dividend payout ratio is 36.32%.

Institutional Trading of IDEX

Hedge funds have recently bought and sold shares of the stock. Riverview Trust Co acquired a new stake in IDEX during the 1st quarter worth approximately $35,000. Quarry LP acquired a new stake in IDEX during the 4th quarter worth approximately $36,000. EdgeRock Capital LLC acquired a new stake in IDEX during the 2nd quarter worth approximately $41,000. Whittier Trust Co. raised its holdings in IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after buying an additional 58 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after buying an additional 100 shares during the period. 97.96% of the stock is currently owned by institutional investors and hedge funds.

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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