IDEX Co. (NYSE:IEX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of IDEX Co. (NYSE:IEX) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $241.00.

IEX has been the topic of several analyst reports. Stifel Nicolaus raised their target price on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Robert W. Baird decreased their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Citigroup cut their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Royal Bank of Canada decreased their target price on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Nicolet Advisory Services LLC bought a new position in shares of IDEX during the 4th quarter valued at about $202,000. Cinctive Capital Management LP bought a new stake in IDEX during the fourth quarter worth approximately $419,000. Massachusetts Financial Services Co. MA grew its position in IDEX by 187.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 21,799 shares of the industrial products company’s stock worth $4,562,000 after buying an additional 14,209 shares during the last quarter. Weitz Investment Management Inc. grew its position in IDEX by 16.9% in the fourth quarter. Weitz Investment Management Inc. now owns 330,500 shares of the industrial products company’s stock worth $69,170,000 after buying an additional 47,850 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of IDEX by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 1,912,933 shares of the industrial products company’s stock valued at $399,350,000 after buying an additional 21,758 shares in the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

IDEX Stock Performance

Shares of IEX opened at $193.83 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.11 and a current ratio of 2.53. IDEX has a 1 year low of $189.51 and a 1 year high of $246.36. The firm has a fifty day moving average of $214.18 and a 200-day moving average of $211.74. The company has a market cap of $14.68 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 1.98 and a beta of 0.97.

IDEX (NYSE:IEX) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, topping 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, equities analysts anticipate that IDEX will post 8.37 earnings per share for the current year.

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.