IDEX (NYSE:IEX) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of IDEX (NYSE:IEX) from a buy rating to a hold rating in a report issued on Wednesday morning.

Other analysts have also recently issued reports about the company. Citigroup boosted their price objective on IDEX from $254.00 to $277.00 and gave the company a buy rating in a research report on Monday, April 8th. Oppenheimer boosted their price objective on IDEX from $245.00 to $252.00 and gave the company an outperform rating in a research report on Thursday, April 18th. Royal Bank of Canada reiterated an outperform rating and issued a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Finally, Stifel Nicolaus upgraded IDEX from a hold rating to a buy rating and upped their price target for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $238.78.

IDEX Stock Down 3.3 %

Shares of IEX stock opened at $224.64 on Wednesday. IDEX has a 12 month low of $183.76 and a 12 month high of $246.36. The firm has a market cap of $17.00 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 2.30 and a beta of 0.97. The stock has a 50 day moving average of $236.58 and a 200-day moving average of $216.55. The company has a quick ratio of 2.05, a current ratio of 2.89 and a debt-to-equity ratio of 0.37.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The company had revenue of $801.00 million during the quarter, compared to analyst estimates of $807.52 million. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 earnings per share. On average, equities analysts predict that IDEX will post 8.34 EPS for the current year.

Hedge Funds Weigh In On IDEX

Hedge funds have recently added to or reduced their stakes in the stock. Planned Solutions Inc. acquired a new position in IDEX in the fourth quarter valued at about $33,000. Riverview Trust Co acquired a new position in IDEX in the first quarter valued at about $35,000. Quarry LP acquired a new position in IDEX in the fourth quarter valued at about $36,000. EdgeRock Capital LLC acquired a new position in IDEX in the fourth quarter valued at about $48,000. Finally, VisionPoint Advisory Group LLC acquired a new position in IDEX in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

About IDEX

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.