IDEX (NYSE:IEX) Reaches New 12-Month Low – Here’s What Happened

IDEX Co. (NYSE:IEX) shares hit a new 52-week low during trading on Monday . The company traded as low as $176.39 and last traded at $178.93, with a volume of 21180 shares trading hands. The stock had previously closed at $180.91.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus increased their target price on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. DA Davidson cut their price objective on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada reduced their price objective on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Finally, Citigroup dropped their target price on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $241.71.

IDEX Price Performance

The firm has a market capitalization of $13.56 billion, a P/E ratio of 26.99, a P/E/G ratio of 1.98 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53. The stock has a 50 day moving average of $197.16 and a two-hundred day moving average of $209.49.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. Sell-side analysts predict that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEX

Several hedge funds have recently modified their holdings of the business. Banque de Luxembourg S.A. acquired a new position in shares of IDEX during the fourth quarter valued at about $27,000. Quarry LP acquired a new position in IDEX in the 4th quarter valued at approximately $49,000. Jones Financial Companies Lllp lifted its position in shares of IDEX by 35.2% in the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 106 shares during the period. Orion Capital Management LLC acquired a new stake in shares of IDEX during the 4th quarter worth approximately $86,000. Finally, Fred Alger Management LLC acquired a new position in shares of IDEX in the third quarter valued at $89,000. 97.96% of the stock is owned by institutional investors.

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.