IDEX (NYSE:IEX) Coverage Initiated by Analysts at UBS Group

UBS Group initiated coverage on shares of IDEX (NYSE:IEX) in a report published on Monday, January 22nd, www.benzinga.com reports. The firm issued a neutral rating on the industrial products company’s stock.

Several other equities research analysts also recently weighed in on IEX. Robert W. Baird reaffirmed a buy rating and set a $129.00 price target on shares of IDEX in a report on Wednesday, October 4th. Jefferies Group reiterated a hold rating on shares of IDEX in a research report on Friday, October 6th. Seaport Global Securities reiterated a neutral rating on shares of IDEX in a research report on Wednesday, October 18th. Oppenheimer reiterated a hold rating on shares of IDEX in a research report on Wednesday, October 18th. Finally, SunTrust Banks restated a hold rating and issued a $118.00 price target on shares of IDEX in a research report on Tuesday, October 17th. They noted that the move was a valuation call. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $133.40.

IDEX (IEX) opened at $133.00 on Monday. The company has a market cap of $10,133.18, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. IDEX has a one year low of $89.69 and a one year high of $148.32. The company has a quick ratio of 2.06, a current ratio of 2.78 and a debt-to-equity ratio of 0.46.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Monday, January 29th. The industrial products company reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.05. The business had revenue of $585.90 million during the quarter, compared to the consensus estimate of $573.47 million. IDEX had a return on equity of 18.88% and a net margin of 14.74%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 earnings per share. equities research analysts anticipate that IDEX will post 5.07 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 30th. Shareholders of record on Monday, January 15th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Thursday, January 11th. IDEX’s payout ratio is 33.95%.

A number of large investors have recently modified their holdings of IEX. Riverhead Capital Management LLC boosted its stake in IDEX by 52.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,897 shares of the industrial products company’s stock worth $327,000 after buying an additional 997 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of IDEX by 5.7% in the 2nd quarter. Teachers Advisors LLC now owns 79,392 shares of the industrial products company’s stock valued at $8,972,000 after purchasing an additional 4,274 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of IDEX by 77.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 213,542 shares of the industrial products company’s stock valued at $24,132,000 after purchasing an additional 93,431 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of IDEX by 0.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 13,302 shares of the industrial products company’s stock valued at $1,504,000 after purchasing an additional 113 shares in the last quarter. Finally, Thrivent Financial For Lutherans lifted its position in IDEX by 6.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 15,400 shares of the industrial products company’s stock worth $1,740,000 after acquiring an additional 990 shares in the last quarter. 96.92% of the stock is currently owned by hedge funds and other institutional investors.

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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).

Analyst Recommendations for IDEX (NYSE:IEX)

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