Zacks Investment Research upgraded shares of IDEX (NYSE:IEX) from a sell rating to a hold rating in a report published on Thursday, January 18th.
According to Zacks, “IDEX is currently striving to expand its businesses in the emerging markets by focusing on organic growth. IDEX further aims to increase its market exposure and improve sales mix by continually developing new products. With a flexible yet disciplined focus on cost and productivity, IDEX expects to successfully tap newer markets to augment its revenue. IDEX also outperformed the industry in the past three months. However, IDEX has huge recurring R&D expenses, which increase operating costs and reduce price control over products. Also, IDEX is susceptible to various operating risks related to the availability and prices for raw materials as it procures substantial amount of components from suppliers across the globe. With operations across five continents, IDEX’s performance is exposed to the adverse impact of macroeconomic cycles in the United States and international markets.”
A number of other research firms have also commented on IEX. Wells Fargo & Co set a $155.00 price objective on shares of IDEX and gave the company a buy rating in a research note on Thursday, January 18th. Robert W. Baird restated a buy rating and issued a $141.00 price objective on shares of IDEX in a research note on Friday, December 15th. Stifel Nicolaus restated a hold rating and issued a $132.00 price objective on shares of IDEX in a research note on Thursday, December 14th. Royal Bank of Canada lifted their price objective on shares of IDEX from $124.00 to $126.00 and gave the company a sector perform rating in a research note on Wednesday, October 18th. Finally, Cowen restated a hold rating and issued a $95.00 price objective on shares of IDEX in a research note on Friday, October 6th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $133.40.
IDEX (IEX) traded up $1.73 during trading hours on Thursday, hitting $132.63. 306,591 shares of the company’s stock traded hands, compared to its average volume of 308,562. The firm has a market capitalization of $10,001.00, a P/E ratio of 30.42, a price-to-earnings-growth ratio of 1.99 and a beta of 1.25. The company has a current ratio of 2.78, a quick ratio of 2.06 and a debt-to-equity ratio of 0.46. IDEX has a fifty-two week low of $89.69 and a fifty-two week high of $148.32.
IDEX (NYSE:IEX) last announced its quarterly earnings results on Monday, January 29th. The industrial products company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.05. IDEX had a net margin of 14.74% and a return on equity of 18.88%. The firm had revenue of $585.90 million during the quarter, compared to analysts’ expectations of $573.47 million. During the same period in the previous year, the company earned $0.96 earnings per share. IDEX’s quarterly revenue was up 10.5% compared to the same quarter last year. research analysts expect that IDEX will post 5.07 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Shareholders of record on Monday, January 15th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $1.48 annualized dividend and a yield of 1.12%. IDEX’s payout ratio is currently 33.95%.
A number of institutional investors and hedge funds have recently modified their holdings of IEX. IHT Wealth Management LLC lifted its holdings in shares of IDEX by 258.5% in the second quarter. IHT Wealth Management LLC now owns 527 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 380 shares in the last quarter. Toronto Dominion Bank purchased a new stake in shares of IDEX in the second quarter valued at about $106,000. Calton & Associates Inc. purchased a new stake in shares of IDEX in the fourth quarter valued at about $160,000. Stock Yards Bank & Trust Co. purchased a new stake in shares of IDEX in the fourth quarter valued at about $201,000. Finally, Community Bank N.A. purchased a new stake in shares of IDEX in the fourth quarter valued at about $203,000. Institutional investors own 96.92% of the company’s stock.
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IDEX Company Profile
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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