StockNews.com Lowers IDEX (NYSE:IEX) to Hold

IDEX (NYSE:IEX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

A number of other equities analysts also recently issued reports on IEX. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and upped their target price for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Oppenheimer raised their price target on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, Citigroup upped their price objective on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, IDEX presently has an average rating of “Moderate Buy” and a consensus price target of $241.67.

IDEX Trading Down 0.6 %

Shares of NYSE IEX opened at $223.29 on Wednesday. IDEX has a 1-year low of $183.76 and a 1-year high of $246.36. The business has a fifty day moving average price of $236.49 and a 200 day moving average price of $216.60. The stock has a market capitalization of $16.90 billion, a P/E ratio of 29.38, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.89 and a quick ratio of 2.05.

IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.88%. The business had revenue of $801.00 million during the quarter, compared to analyst estimates of $807.52 million. During the same period in the prior year, the firm posted $2.09 earnings per share. The company’s quarterly revenue was down 5.3% on a year-over-year basis. Equities research analysts expect that IDEX will post 8.34 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEX

A number of institutional investors and hedge funds have recently modified their holdings of IEX. Planned Solutions Inc. acquired a new position in IDEX in the 4th quarter worth approximately $33,000. Riverview Trust Co acquired a new stake in shares of IDEX in the first quarter worth $35,000. Quarry LP purchased a new position in shares of IDEX during the fourth quarter worth $36,000. EdgeRock Capital LLC acquired a new position in IDEX during the fourth quarter valued at $48,000. Finally, VisionPoint Advisory Group LLC purchased a new stake in IDEX in the fourth quarter valued at $50,000. Institutional investors and hedge funds 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.