Stifel Nicolaus Boosts IDEX (NYSE:IEX) Price Target to $208.00

IDEX (NYSE:IEX - Free Report) had its price objective raised by Stifel Nicolaus from $192.00 to $208.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the industrial products company's stock.

A number of other research firms also recently issued reports on IEX. Mizuho set a $175.00 price target on IDEX in a research report on Tuesday, April 22nd. Citigroup cut their price target on shares of IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Royal Bank of Canada decreased their price objective on shares of IDEX from $256.00 to $245.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Finally, DA Davidson reduced their target price on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, IDEX currently has an average rating of "Moderate Buy" and a consensus price target of $214.50.

IDEX Trading Up 0.2 %

Shares of IDEX stock traded up $0.34 during trading hours on Friday, reaching $181.79. 660,823 shares of the company's stock were exchanged, compared to its average volume of 575,194. The firm has a market capitalization of $13.73 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. IDEX has a 52-week low of $153.36 and a 52-week high of $238.22. The company has a fifty day moving average of $177.08 and a 200-day moving average of $201.90.

IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.11. IDEX had a net margin of 15.45% and a return on equity of 16.08%. The business had revenue of $814.30 million for the quarter, compared to analyst estimates of $807.25 million. During the same period in the prior year, the firm posted $1.88 EPS. The company's revenue was up 1.7% on a year-over-year basis. Sell-side analysts forecast that IDEX will post 8.26 EPS for the current fiscal year.

Institutional Trading of IDEX

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of IDEX by 49.1% during the fourth quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company's stock worth $883,119,000 after buying an additional 1,388,667 shares during the period. Norges Bank bought a new stake in shares of IDEX during the 4th quarter worth about $217,658,000. Price T Rowe Associates Inc. MD lifted its stake in shares of IDEX by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company's stock worth $767,421,000 after acquiring an additional 277,964 shares during the period. Flossbach Von Storch SE acquired a new position in shares of IDEX in the 1st quarter worth approximately $49,815,000. Finally, Allianz Asset Management GmbH lifted its position in shares of IDEX by 133.2% during the 4th quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company's stock valued at $85,105,000 after acquiring an additional 232,255 shares during the last quarter. Institutional investors own 97.96% of the company's stock.

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.