IDEX (NYSE:IEX) Given New $192.00 Price Target at Stifel Nicolaus

IDEX (NYSE:IEX) had its price objective lowered by stock analysts at Stifel Nicolaus from $256.00 to $192.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 13.16% from the stock’s current price.

A number of other research analysts have also commented on IEX. DA Davidson decreased their price objective on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada decreased their price target on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Finally, Citigroup dropped their price objective on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and an average target price of $232.57.

IDEX Price Performance

Shares of IEX stock traded up $1.16 during trading hours on Monday, hitting $169.67. 61,440 shares of the company’s stock were exchanged, compared to its average volume of 612,776. The stock’s 50-day moving average is $185.17 and its 200-day moving average is $206.42. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. IDEX has a 52 week low of $153.36 and a 52 week high of $238.22. The stock has a market cap of $12.82 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. As a group, research analysts forecast that IDEX will post 8.26 EPS for the current year.

Hedge Funds Weigh In On IDEX

Institutional investors have recently modified their holdings of the stock. Vest Financial LLC boosted its stake in IDEX by 36.3% during the 1st quarter. Vest Financial LLC now owns 15,712 shares of the industrial products company’s stock worth $2,843,000 after acquiring an additional 4,182 shares during the last quarter. Czech National Bank raised its holdings in IDEX by 5.9% in the first quarter. Czech National Bank now owns 17,392 shares of the industrial products company’s stock worth $3,147,000 after purchasing an additional 973 shares during the period. Rhumbline Advisers boosted its position in shares of IDEX by 6.1% during the first quarter. Rhumbline Advisers now owns 172,103 shares of the industrial products company’s stock worth $31,145,000 after purchasing an additional 9,940 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of IDEX by 26,868.7% in the 1st quarter. GAMMA Investing LLC now owns 165,588 shares of the industrial products company’s stock valued at $299,660,000 after buying an additional 164,974 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of IDEX by 970.7% in the 1st quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company’s stock valued at $79,000 after buying an additional 398 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

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.