IDEX (NYSE:IEX) Sets New 52-Week Low – Here’s What Happened

Shares of IDEX Co. (NYSE:IEX) reached a new 52-week low during trading on Monday . The stock traded as low as $153.36 and last traded at $154.16, with a volume of 51227 shares changing hands. The stock had previously closed at $162.49.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IEX. Royal Bank of Canada cut their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. DA Davidson lowered their price objective on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Citigroup reduced their target price on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Stifel Nicolaus increased their price objective on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, IDEX currently has an average rating of “Moderate Buy” and a consensus target price of $241.71.

IDEX Price Performance

The stock has a market cap of $13.14 billion, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. The stock’s 50 day moving average price is $189.23 and its two-hundred day moving average price is $207.55. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. Equities research analysts forecast that IDEX Co. will post 8.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IEX. Bleakley Financial Group LLC increased its holdings in shares of IDEX by 4.1% during the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 48 shares in the last quarter. Albert D Mason Inc. grew its position in IDEX by 1.3% during the fourth quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock valued at $948,000 after buying an additional 56 shares during the period. Diversified Trust Co increased its holdings in IDEX by 1.0% in the fourth quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock valued at $1,300,000 after buying an additional 59 shares in the last quarter. Blackston Financial Advisory Group LLC raised its position in shares of IDEX by 2.7% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,299 shares of the industrial products company’s stock worth $481,000 after acquiring an additional 60 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of IDEX by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,925 shares of the industrial products company’s stock worth $1,031,000 after acquiring an additional 61 shares in the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

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.