Citigroup Cuts IDEX (NYSE:IEX) Price Target to $201.00

IDEX (NYSE:IEX) had its price target reduced by Citigroup from $264.00 to $201.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other equities research analysts have also recently issued reports on IEX. DA Davidson cut their target price on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada dropped their target price on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Finally, Stifel Nicolaus lowered their target price on IDEX from $256.00 to $192.00 and set a “buy” rating for the company in a report on Monday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $223.14.

IDEX Stock Down 1.8 %

NYSE IEX opened at $164.28 on Monday. IDEX has a one year low of $153.36 and a one year high of $238.22. 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 business has a fifty day moving average price of $183.35 and a 200 day moving average price of $205.55. The company has a market cap of $12.41 billion, a P/E ratio of 24.70, a P/E/G ratio of 1.98 and a beta of 1.05.

IDEX (NYSE:IEX) last released its earnings results 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%. Research analysts anticipate that IDEX will post 8.26 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEX

A number of institutional investors and hedge funds have recently bought and sold shares of IEX. MassMutual Private Wealth & Trust FSB increased its position in IDEX by 81.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company’s stock worth $26,000 after buying an additional 64 shares during the period. Banque de Luxembourg S.A. acquired a new stake in shares of IDEX during the fourth quarter worth about $27,000. UMB Bank n.a. grew its holdings in shares of IDEX by 63.5% during the first quarter. UMB Bank n.a. now owns 224 shares of the industrial products company’s stock worth $41,000 after buying an additional 87 shares during the last quarter. Quarry LP acquired a new stake in IDEX during the 4th quarter worth approximately $49,000. Finally, Versant Capital Management Inc grew its stake 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 purchasing an additional 398 shares during the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

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.