IDEX (NYSE:IEX) had its price target upped by analysts at Rosenblatt Securities from $205.00 to $220.00 in a report released on Tuesday, Anlyst Ratings reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Rosenblatt Securities’ price objective would indicate a potential upside of 8.42% from the stock’s previous close.
Separately, Zacks Investment Research raised IDEX from a “sell” rating to a “hold” rating and set a $187.00 price objective for the company in a research report on Friday, September 25th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. IDEX has a consensus rating of “Buy” and a consensus target price of $175.64.
IDEX stock opened at $202.92 on Tuesday. The firm has a market cap of $15.36 billion, a PE ratio of 41.50, a price-to-earnings-growth ratio of 3.74 and a beta of 1.08. The company’s 50 day moving average is $196.85 and its two-hundred day moving average is $182.53. IDEX has a 52-week low of $104.56 and a 52-week high of $211.71. The company has a quick ratio of 2.97, a current ratio of 3.71 and a debt-to-equity ratio of 0.44.
IDEX (NYSE:IEX) last posted its earnings results on Tuesday, October 27th. The industrial products company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.20 by $0.20. IDEX had a return on equity of 17.21% and a net margin of 15.94%. The firm had revenue of $581.11 million for the quarter, compared to analyst estimates of $563.54 million. On average, equities research analysts anticipate that IDEX will post 5.15 earnings per share for the current fiscal year.
In other IDEX news, Director Ernest J. Mrozek sold 3,530 shares of the stock in a transaction that occurred on Wednesday, November 25th. The stock was sold at an average price of $190.77, for a total transaction of $673,418.10. Following the completion of the sale, the director now directly owns 14,085 shares of the company’s stock, valued at approximately $2,686,995.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew K. Silvernail sold 152,450 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $189.66, for a total value of $28,913,667.00. Following the sale, the chief executive officer now directly owns 50,693 shares of the company’s stock, valued at $9,614,434.38. The disclosure for this sale can be found here. Insiders have sold a total of 278,406 shares of company stock valued at $50,376,244 over the last ninety days. 1.10% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. IFM Investors Pty Ltd lifted its position in IDEX by 14.8% during the 4th quarter. IFM Investors Pty Ltd now owns 7,308 shares of the industrial products company’s stock worth $1,456,000 after acquiring an additional 942 shares during the period. OneAscent Financial Services LLC raised its stake in shares of IDEX by 9.0% during the 4th quarter. OneAscent Financial Services LLC now owns 1,959 shares of the industrial products company’s stock worth $390,000 after buying an additional 161 shares in the last quarter. MADDEN SECURITIES Corp raised its stake in shares of IDEX by 8.2% during the 4th quarter. MADDEN SECURITIES Corp now owns 1,975 shares of the industrial products company’s stock worth $393,000 after buying an additional 150 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of IDEX by 23.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 4,700 shares of the industrial products company’s stock worth $936,000 after buying an additional 900 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of IDEX by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 37,316 shares of the industrial products company’s stock worth $7,432,000 after buying an additional 264 shares in the last quarter. 86.78% of the stock is owned by institutional investors.
IDEX Corporation, together with its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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