Stifel Nicolaus Boosts IDEX (NYSE:IEX) Price Target to $238.00

IDEX (NYSE:IEX - Get Free Report) had its price target lifted by stock analysts at Stifel Nicolaus from $208.00 to $238.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Stifel Nicolaus' target price points to a potential upside of 29.72% from the stock's previous close.

Several other analysts also recently issued reports on the company. Royal Bank Of Canada boosted their price objective on IDEX from $206.00 to $208.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Robert W. Baird set a $215.00 target price on IDEX in a report on Friday, May 2nd. Citigroup upped their target price on IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Mizuho set a $185.00 target price on IDEX in a report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, IDEX currently has a consensus rating of "Moderate Buy" and a consensus target price of $218.13.

IDEX Price Performance

Shares of IDEX stock opened at $183.47 on Monday. The company has a current ratio of 2.79, a quick ratio of 1.99 and a debt-to-equity ratio of 0.47. The company's 50-day moving average price is $181.37 and its two-hundred day moving average price is $187.07. IDEX has a 52 week low of $153.36 and a 52 week high of $238.22. The stock has a market cap of $13.86 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 1.86 and a beta of 1.04.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.64 by $0.11. The firm had revenue of $814.30 million for the quarter, compared to analysts' expectations of $807.25 million. IDEX had a net margin of 14.60% and a return on equity of 15.51%. IDEX's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.88 earnings per share. As a group, sell-side analysts anticipate that IDEX will post 8.26 EPS for the current fiscal year.

Insider Activity at IDEX

In related news, CFO Akhil Mahendra sold 250 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total value of $45,222.50. Following the completion of the sale, the chief financial officer owned 5,035 shares of the company's stock, valued at approximately $910,781.15. The trade was a 4.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.50% of the company's stock.

Institutional Investors Weigh In On IDEX

Large investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. boosted its position in IDEX by 257.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company's stock worth $25,000 after purchasing an additional 103 shares during the period. American National Bank & Trust bought a new stake in shares of IDEX in the second quarter valued at approximately $25,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of IDEX by 81.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 64 shares during the period. Banque de Luxembourg S.A. bought a new stake in shares of IDEX in the fourth quarter valued at approximately $27,000. Finally, UMB Bank n.a. boosted its position in shares of IDEX by 63.5% in the first quarter. UMB Bank n.a. now owns 224 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 87 shares during the period. Institutional investors own 97.96% of the company's stock.

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.

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