IDEX Co. (NYSE:IEX - Free Report) - Investment analysts at Zacks Research lowered their FY2024 EPS estimates for shares of IDEX in a research note issued on Tuesday, April 16th. Zacks Research analyst R. Department now anticipates that the industrial products company will post earnings per share of $8.37 for the year, down from their previous forecast of $8.40. The consensus estimate for IDEX's current full-year earnings is $8.35 per share. Zacks Research also issued estimates for IDEX's Q4 2024 earnings at $2.28 EPS, Q2 2025 earnings at $2.51 EPS, Q4 2025 earnings at $2.31 EPS and Q1 2026 earnings at $2.44 EPS.
Other equities research analysts also recently issued research reports about the stock. Citigroup boosted their price objective on shares of IDEX from $254.00 to $277.00 and gave the company a "buy" rating in a research report on Monday, April 8th. Oppenheimer increased their price target on IDEX from $245.00 to $252.00 and gave the stock an "outperform" rating in a research report on Thursday. Stifel Nicolaus upgraded IDEX from a "hold" rating to a "buy" rating and boosted their price objective for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. StockNews.com upgraded IDEX from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $255.00 target price on shares of IDEX in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $238.78.
Read Our Latest Stock Analysis on IDEX
IDEX Stock Performance
IEX stock traded down $0.73 during trading on Thursday, hitting $226.10. 248,282 shares of the company's stock traded hands, compared to its average volume of 378,192. The stock has a market capitalization of $17.11 billion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 2.29 and a beta of 0.97. IDEX has a 52 week low of $183.76 and a 52 week high of $246.36. The stock has a fifty day moving average price of $236.43 and a two-hundred day moving average price of $215.88. The company has a quick ratio of 2.05, a current ratio of 2.89 and a debt-to-equity ratio of 0.37.
IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.05. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The firm had revenue of $788.90 million during the quarter, compared to analyst estimates of $767.96 million. During the same period in the previous year, the company earned $2.01 earnings per share. IDEX's quarterly revenue was down 2.7% on a year-over-year basis.
Institutional Investors Weigh In On IDEX
Hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. increased its stake in IDEX by 34.2% during the 1st quarter. American Century Companies Inc. now owns 3,251 shares of the industrial products company's stock valued at $623,000 after buying an additional 829 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of IDEX during the first quarter valued at approximately $1,058,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in IDEX by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,173 shares of the industrial products company's stock worth $1,950,000 after purchasing an additional 630 shares in the last quarter. Yousif Capital Management LLC lifted its position in IDEX by 3.5% in the first quarter. Yousif Capital Management LLC now owns 16,223 shares of the industrial products company's stock worth $3,110,000 after purchasing an additional 555 shares during the period. Finally, Sei Investments Co. boosted its stake in IDEX by 24.2% during the 1st quarter. Sei Investments Co. now owns 82,824 shares of the industrial products company's stock valued at $15,877,000 after purchasing an additional 16,117 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors.
About IDEX
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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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