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IDEX (NYSE:IEX) Price Target Lowered to $200.00 at Royal Bank Of Canada

IDEX logo with Industrials background

Key Points

  • Royal Bank of Canada has lowered its price target for IDEX from $207.00 to $200.00, while maintaining an "outperform" rating, hinting at a potential upside of 21.49% based on the last close.
  • Other analysts have varying price targets for IDEX, with Stifel Nicolaus setting a high target of $238.00, while Mizuho set a lower target at $185.00.
  • IDEX reported earnings of $2.07 per share for the last quarter, beating analysts' estimates, and a revenue increase of 7.2% year-on-year, totaling $865.40 million.
  • MarketBeat previews the top five stocks to own by September 1st.

IDEX (NYSE:IEX - Get Free Report) had its price objective cut by stock analysts at Royal Bank Of Canada from $207.00 to $200.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the industrial products company's stock. Royal Bank Of Canada's price target points to a potential upside of 25.76% from the stock's current price.

IEX has been the topic of several other research reports. Oppenheimer cut their price objective on IDEX from $224.00 to $212.00 and set an "outperform" rating on the stock in a report on Thursday. Robert W. Baird set a $215.00 target price on IDEX in a research note on Friday, May 2nd. Mizuho set a $185.00 price target on IDEX in a research note on Friday, May 16th. Citigroup boosted their price target on IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Stifel Nicolaus boosted their target price on IDEX from $208.00 to $238.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $209.63.

Get Our Latest Analysis on IEX

IDEX Price Performance

NYSE:IEX traded down $4.48 during mid-day trading on Thursday, reaching $159.03. 1,319,862 shares of the stock were exchanged, compared to its average volume of 772,596. The business has a fifty day moving average price of $179.49 and a 200 day moving average price of $185.20. The firm has a market capitalization of $11.97 billion, a PE ratio of 25.69, a PEG ratio of 1.72 and a beta of 1.04. IDEX has a 1-year low of $153.36 and a 1-year high of $238.22. The company has a current ratio of 3.05, a quick ratio of 1.99 and a debt-to-equity ratio of 0.46.

IDEX (NYSE:IEX - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.00 by $0.07. The firm had revenue of $865.40 million for the quarter, compared to analyst estimates of $858.59 million. IDEX had a return on equity of 15.16% and a net margin of 14.05%. IDEX's revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.06 earnings per share. Research analysts expect that IDEX will post 8.26 earnings per share for the current fiscal year.

Insider Activity at IDEX

In other IDEX news, CFO Akhil Mahendra sold 250 shares of IDEX stock in a transaction 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 sale, the chief financial officer owned 5,035 shares in the company, valued at $910,781.15. The trade was a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On IDEX

A number of institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its position in IDEX by 19.7% in the first quarter. Wellington Management Group LLP now owns 5,050,601 shares of the industrial products company's stock valued at $914,007,000 after acquiring an additional 831,005 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in IDEX by 8.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company's stock valued at $767,421,000 after acquiring an additional 277,964 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in IDEX by 11.5% during the first quarter. Impax Asset Management Group plc now owns 2,006,724 shares of the industrial products company's stock worth $363,157,000 after buying an additional 207,172 shares during the last quarter. Geode Capital Management LLC boosted its holdings in IDEX by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 1,912,933 shares of the industrial products company's stock worth $399,350,000 after buying an additional 21,758 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in IDEX by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,868,919 shares of the industrial products company's stock worth $391,147,000 after buying an additional 17,087 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

IDEX Company Profile

(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.

See Also

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