Stifel Nicolaus Cuts IDEX (IEX) Price Target to $140.00

IDEX (NYSE:IEX) had its target price reduced by research analysts at Stifel Nicolaus from $145.00 to $140.00 in a research report issued to clients and investors on Monday. The firm currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price target points to a potential downside of 1.37% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. DA Davidson began coverage on IDEX in a research note on Thursday. They issued a “neutral” rating and a $140.00 target price on the stock. Zacks Investment Research raised IDEX from a “hold” rating to a “buy” rating and set a $155.00 target price on the stock in a research note on Monday, April 9th. ValuEngine raised IDEX from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. SunTrust Banks increased their target price on IDEX to $145.00 in a research note on Thursday, February 1st. They noted that the move was a valuation call. Finally, BMO Capital Markets increased their target price on IDEX to $143.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 31st. They noted that the move was a valuation call. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $136.60.

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NYSE IEX opened at $141.94 on Monday. IDEX has a 12 month low of $91.84 and a 12 month high of $150.72. The firm has a market capitalization of $10,863.42, a PE ratio of 32.93, a P/E/G ratio of 2.53 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.06 and a current ratio of 2.78.

IDEX (NYSE:IEX) last released its earnings results on Monday, January 29th. The industrial products company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.05. IDEX had a return on equity of 18.88% and a net margin of 14.74%. The firm had revenue of $585.90 million for the quarter, compared to analysts’ expectations of $573.47 million. During the same period in the prior year, the firm posted $0.96 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. equities analysts anticipate that IDEX will post 5.1 earnings per share for the current year.

Large investors have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its holdings in shares of IDEX by 4.8% during the fourth quarter. Wells Fargo & Company MN now owns 206,301 shares of the industrial products company’s stock valued at $27,226,000 after purchasing an additional 9,436 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of IDEX by 71.1% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,700 shares of the industrial products company’s stock valued at $1,016,000 after purchasing an additional 3,200 shares in the last quarter. State of Wisconsin Investment Board lifted its holdings in shares of IDEX by 1.2% during the fourth quarter. State of Wisconsin Investment Board now owns 75,446 shares of the industrial products company’s stock valued at $9,957,000 after purchasing an additional 887 shares in the last quarter. AXA lifted its holdings in shares of IDEX by 652.4% during the fourth quarter. AXA now owns 14,078 shares of the industrial products company’s stock valued at $1,858,000 after purchasing an additional 12,207 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of IDEX by 14,670.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 175,174 shares of the industrial products company’s stock valued at $23,117,000 after purchasing an additional 173,988 shares in the last quarter. 96.14% 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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