IDEX (NYSE:IEX) Stock Rating Upgraded by StockNews.com

IDEX (NYSE:IEX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Several other research firms have also issued reports on IEX. Citigroup raised their target price on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price objective on shares of IDEX in a report on Thursday, March 21st. Finally, Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $265.00 in a report on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $238.00.

IDEX Trading Down 0.6 %

Shares of IDEX stock traded down $1.37 during trading on Tuesday, hitting $229.12. The stock had a trading volume of 355,764 shares, compared to its average volume of 379,460. The firm’s fifty day simple moving average is $236.34 and its 200-day simple moving average is $215.73. The stock has a market cap of $17.34 billion, a PE ratio of 29.22, a PEG 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 has a 12 month low of $183.76 and a 12 month high of $246.36.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.05. The firm had revenue of $788.90 million during the quarter, compared to analyst estimates of $767.96 million. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the business earned $2.01 EPS. As a group, sell-side analysts expect that IDEX will post 8.35 EPS for the current fiscal year.

Institutional Trading of IDEX

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in IDEX by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 8,802,857 shares of the industrial products company’s stock worth $1,687,772,000 after purchasing an additional 53,138 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in IDEX by 12.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,409,706 shares of the industrial products company’s stock valued at $1,608,722,000 after acquiring an additional 833,772 shares during the period. Wellington Management Group LLP lifted its stake in IDEX by 3.9% during the 1st quarter. Wellington Management Group LLP now owns 3,106,765 shares of the industrial products company’s stock valued at $595,660,000 after acquiring an additional 117,605 shares during the period. Impax Asset Management Group plc lifted its stake in IDEX by 4.0% during the 4th quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock valued at $475,632,000 after acquiring an additional 84,502 shares during the period. Finally, Morgan Stanley lifted its stake in IDEX by 274.1% during the 4th quarter. Morgan Stanley now owns 2,151,334 shares of the industrial products company’s stock valued at $491,214,000 after acquiring an additional 1,576,263 shares during the period. Hedge funds and other institutional investors 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.