Oppenheimer Increases IDEX (NYSE:IEX) Price Target to $252.00

IDEX (NYSE:IEX) had its target price raised by Oppenheimer from $245.00 to $252.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target suggests a potential upside of 11.10% from the stock’s current price.

Several other research analysts have also issued reports on IEX. StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Finally, Citigroup increased their price target on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $238.78.

IDEX Trading Down 1.1 %

Shares of IEX stock opened at $226.83 on Thursday. IDEX has a 52-week low of $183.76 and a 52-week high of $246.36. The business’s fifty day moving average is $236.43 and its 200 day moving average is $215.81. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 2.89. The company has a market capitalization of $17.17 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 2.29 and a beta of 0.97.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.05. The firm had revenue of $788.90 million during the quarter, compared to the consensus estimate of $767.96 million. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the company posted $2.01 EPS. On average, equities research analysts anticipate that IDEX will post 8.35 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEX

A number of large investors have recently modified their holdings of IEX. Morgan Stanley raised its holdings in IDEX by 274.1% in the fourth quarter. Morgan Stanley now owns 2,151,334 shares of the industrial products company’s stock worth $491,214,000 after purchasing an additional 1,576,263 shares in the last quarter. Norges Bank bought a new stake in IDEX in the fourth quarter worth $237,425,000. Price T Rowe Associates Inc. MD increased its holdings in shares of IDEX by 12.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,409,706 shares of the industrial products company’s stock valued at $1,608,722,000 after acquiring an additional 833,772 shares in the last quarter. Alecta Tjanstepension Omsesidigt boosted its stake in IDEX by 420.8% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock worth $169,600,000 after purchasing an additional 631,172 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its position in IDEX by 4,080.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 313,725 shares of the industrial products company’s stock valued at $68,113,000 after purchasing an additional 306,221 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Company Profile

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.