IDEX (NYSE:IEX) Given New $256.00 Price Target at Robert W. Baird

IDEX (NYSE:IEX - Free Report) had its price objective cut by Robert W. Baird from $260.00 to $256.00 in a report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the industrial products company's stock.

A number of other analysts also recently weighed in on IEX. Oppenheimer raised their price target on shares of IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a research report on Thursday, April 18th. 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. Citigroup raised their price target on shares of IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research report on Monday, April 8th. StockNews.com cut IDEX from a buy rating to a hold rating in a research note on Wednesday. Finally, Stifel Nicolaus upgraded IDEX from a hold rating to a buy rating and raised their price objective for the stock from $215.00 to $265.00 in a research note on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, IDEX has a consensus rating of Moderate Buy and an average target price of $241.67.

IDEX Stock Performance

IEX stock traded down $1.35 on Thursday, hitting $223.29. The company's stock had a trading volume of 486,624 shares, compared to its average volume of 380,183. The stock has a market cap of $16.90 billion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97. IDEX has a 1 year low of $183.76 and a 1 year high of $246.36. The firm has a 50 day moving average of $236.58 and a two-hundred day moving average of $216.55. The company has a current ratio of 2.89, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.88%. The company had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. During the same quarter last year, the company earned $2.09 earnings per share. IDEX's revenue for the quarter was down 5.3% on a year-over-year basis. Equities analysts predict that IDEX will post 8.34 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEX

A number of hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in IDEX by 2.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,680 shares of the industrial products company's stock valued at $28,960,000 after buying an additional 2,548 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of IDEX by 8.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 23,018 shares of the industrial products company's stock valued at $5,617,000 after purchasing an additional 1,800 shares in the last quarter. Peterson Financial Group Inc. raised its stake in shares of IDEX by 40.1% during the first quarter. Peterson Financial Group Inc. now owns 15,369 shares of the industrial products company's stock valued at $3,750,000 after purchasing an additional 4,399 shares in the last quarter. Albert D Mason Inc. raised its stake in shares of IDEX by 1.0% during the first quarter. Albert D Mason Inc. now owns 4,509 shares of the industrial products company's stock valued at $1,100,000 after purchasing an additional 45 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its stake in shares of IDEX by 15.7% during the first quarter. V Square Quantitative Management LLC now owns 2,220 shares of the industrial products company's stock valued at $542,000 after purchasing an additional 302 shares in the last quarter. 97.96% of the stock is currently owned by 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.