Stifel Nicolaus Cuts IDEX (NYSE:IEX) Price Target to $204.00

Key Points

• Stifel Nicolaus has reduced its price target for IDEX from $238.00 to $204.00, maintaining a "buy" rating, which suggests a potential upside of 24.51% from the previous close.
• Other analysts have varied price targets for IDEX, with an average target of $209.63 and a current "Moderate Buy" rating.
• IDEX recently reported a quarterly revenue of $865.40 million, exceeding estimates and reflecting a 7.2% year-over-year growth in revenue.

IDEX (NYSE:IEX - Get Free Report) had its target price reduced by investment analysts at Stifel Nicolaus from $238.00 to $204.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Stifel Nicolaus' price target suggests a potential upside of 24.51% from the company's previous close.

Other equities research analysts have also issued reports about the company. Robert W. Baird set a $215.00 price target on IDEX in a research report on Friday, May 2nd. Royal Bank Of Canada dropped their price target on IDEX from $207.00 to $200.00 and set an "outperform" rating for the company in a research report on Thursday. Oppenheimer dropped their price target on IDEX from $224.00 to $212.00 and set an "outperform" rating for the company in a research report on Thursday. Mizuho set a $185.00 price target on IDEX in a research report on Friday, May 16th. Finally, Citigroup upped their price objective on IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a report on Monday, July 14th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $209.63.

IDEX Price Performance

Shares of IDEX stock traded down $0.44 on Thursday, hitting $163.84. The company's stock had a trading volume of 545,709 shares, compared to its average volume of 656,180. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.99 and a current ratio of 2.79. IDEX has a 1 year low of $153.36 and a 1 year high of $238.22. The firm has a fifty day moving average price of $180.25 and a 200-day moving average price of $185.91. The company has a market capitalization of $12.38 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 1.87 and a beta of 1.04.

IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.07 EPS for the quarter, topping the consensus estimate of $2.00 by $0.07. IDEX had a return on equity of 15.51% and a net margin of 14.60%. The company had revenue of $865.40 million during the quarter, compared to analyst estimates of $858.59 million. During the same period in the previous year, the business earned $2.06 EPS. IDEX's quarterly revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts anticipate that IDEX will post 8.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total transaction of $45,222.50. Following the transaction, the chief financial officer directly owned 5,035 shares in the company, valued at $910,781.15. This represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IEX. American Century Companies Inc. lifted its stake in IDEX by 3.4% during the fourth quarter. American Century Companies Inc. now owns 9,655 shares of the industrial products company's stock worth $2,021,000 after purchasing an additional 314 shares in the last quarter. LPL Financial LLC increased its position in shares of IDEX by 13.6% during the fourth quarter. LPL Financial LLC now owns 19,702 shares of the industrial products company's stock worth $4,123,000 after acquiring an additional 2,363 shares during the period. Blair William & Co. IL increased its position in shares of IDEX by 7.0% during the fourth quarter. Blair William & Co. IL now owns 3,562 shares of the industrial products company's stock worth $746,000 after acquiring an additional 232 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of IDEX during the fourth quarter worth $448,000. Finally, O Shaughnessy Asset Management LLC increased its position in shares of IDEX by 4.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,128 shares of the industrial products company's stock worth $655,000 after acquiring an additional 127 shares during the period. 97.96% of the stock is currently owned by institutional investors and hedge funds.

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.

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