IDEX (NYSE:IEX) PT Raised to $277.00 at Citigroup

IDEX (NYSE:IEX - Get Free Report) had its price target boosted by stock analysts at Citigroup from $254.00 to $277.00 in a report released on Monday, Benzinga reports. The firm currently has a "buy" rating on the industrial products company's stock. Citigroup's target price indicates a potential upside of 15.95% from the company's previous close.

Several other analysts have also recently issued reports on IEX. Royal Bank of Canada reissued an "outperform" rating and set a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Stifel Nicolaus raised shares of IDEX from a "hold" rating to a "buy" rating and increased their price target for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $238.00.

IDEX Trading Down 0.2 %

NYSE IEX traded down $0.49 during trading hours on Monday, reaching $238.89. The company had a trading volume of 235,932 shares, compared to its average volume of 384,768. The stock has a market capitalization of $18.08 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 2.39 and a beta of 0.97. IDEX has a 1-year low of $183.76 and a 1-year high of $246.36. The company has a current ratio of 2.89, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $234.27 and a 200 day moving average of $214.58.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.05. The business had revenue of $788.90 million for the quarter, compared to analysts' expectations of $767.96 million. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The business's quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.01 earnings per share. As a group, research analysts anticipate that IDEX will post 8.35 earnings per share for the current fiscal year.

Institutional Trading of IDEX

A number of large investors have recently made changes to their positions in IEX. American Century Companies Inc. increased its stake in IDEX by 34.2% in the first quarter. American Century Companies Inc. now owns 3,251 shares of the industrial products company's stock valued at $623,000 after purchasing an additional 829 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in IDEX in the first quarter valued at approximately $1,058,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in IDEX by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,173 shares of the industrial products company's stock valued at $1,950,000 after purchasing an additional 630 shares during the last quarter. Yousif Capital Management LLC increased its stake 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 valued at $3,110,000 after purchasing an additional 555 shares during the last quarter. Finally, Sei Investments Co. increased its stake in IDEX by 24.2% in the first 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 during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

About IDEX

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.