IDEX (NYSE:IEX - Get Free Report) had its price objective lifted by stock analysts at Citigroup from $208.00 to $216.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Citigroup's target price indicates a potential upside of 21.45% from the company's previous close.
Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus lifted their target price on IDEX from $192.00 to $208.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Royal Bank Of Canada lifted their target price on IDEX from $206.00 to $208.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Robert W. Baird set a $215.00 target price on IDEX in a research note on Friday, May 2nd. Finally, Mizuho set a $185.00 target price on IDEX in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $214.38.
Check Out Our Latest Analysis on IEX
IDEX Stock Down 0.9%
NYSE:IEX traded down $1.63 during trading hours on Monday, hitting $177.85. 72,526 shares of the company traded hands, compared to its average volume of 604,536. The company has a quick ratio of 1.99, a current ratio of 2.79 and a debt-to-equity ratio of 0.47. The firm's 50-day simple moving average is $181.39 and its 200-day simple moving average is $187.76. IDEX has a one year low of $153.36 and a one year high of $238.22. The company has a market cap of $13.43 billion, a PE ratio of 28.23, a PEG ratio of 1.84 and a beta of 1.04.
IDEX (NYSE:IEX - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $1.75 EPS for the quarter, topping analysts' consensus estimates of $1.64 by $0.11. The company had revenue of $814.30 million for the quarter, compared to analysts' expectations of $807.25 million. IDEX had a return on equity of 15.51% and a net margin of 14.60%. The business's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.88 EPS. Equities analysts predict that IDEX will post 8.26 earnings per share for the current year.
Insider Buying and Selling
In related news, CFO Akhil Mahendra sold 250 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $180.89, for a total transaction of $45,222.50. Following the completion of the transaction, the chief financial officer owned 5,035 shares of the company's stock, valued at approximately $910,781.15. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.50% of the company's stock.
Hedge Funds Weigh In On IDEX
Hedge funds have recently bought and sold shares of the company. Banque de Luxembourg S.A. purchased a new position in IDEX during the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB grew its stake 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 valued at $26,000 after acquiring an additional 64 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in IDEX by 257.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 103 shares in the last quarter. American National Bank & Trust purchased a new position in IDEX in the 2nd quarter worth approximately $25,000. Finally, UMB Bank n.a. grew its stake in IDEX by 63.5% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 97.96% of the company's stock.
IDEX Company Profile
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Get Free Report)
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.
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