IDEX (NYSE:IEX) PT Raised to $252.00 at Oppenheimer

IDEX (NYSE:IEX - Free Report) had its price objective increased by Oppenheimer from $245.00 to $252.00 in a research note released on Thursday morning, Benzinga reports. They currently have an outperform rating on the industrial products company's stock.

Several other analysts also recently issued reports on IEX. Royal Bank of Canada reaffirmed an outperform rating and issued a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Stifel Nicolaus raised IDEX from a hold rating to a buy rating and upped their target price for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. Citigroup raised their price target on IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research report on Monday, April 8th. Finally, StockNews.com raised IDEX from a hold rating to a buy rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $238.78.

IDEX Price Performance

NYSE IEX traded down $0.73 during mid-day trading on Thursday, hitting $226.10. The stock had a trading volume of 248,282 shares, compared to its average volume of 378,192. The company has a 50 day simple moving average of $236.43 and a 200 day simple moving average 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. The company has a market cap of $17.11 billion, a price-to-earnings ratio of 28.84, a P/E/G 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.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IEX. Parkside Financial Bank & Trust raised its position in shares of IDEX by 120.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company's stock worth $27,000 after buying an additional 77 shares during the period. Riverview Trust Co purchased a new position in shares of IDEX in the 1st quarter worth about $35,000. Clear Street Markets LLC lifted its stake in shares of IDEX by 94.7% in the 1st quarter. Clear Street Markets LLC now owns 148 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 72 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of IDEX during the 4th quarter worth about $33,000. Finally, Quarry LP acquired a new stake in IDEX during the 4th quarter worth approximately $36,000. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

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.