Stifel Nicolaus Lowers IDEX (NYSE:IEX) Price Target to $236.00

IDEX (NYSE:IEX) had its price target trimmed by Stifel Nicolaus from $265.00 to $236.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other equities analysts have also recently issued reports on IEX. Citigroup upped their price target on shares of IDEX from $254.00 to $277.00 and gave the company a buy rating in a research report on Monday, April 8th. StockNews.com cut shares of IDEX from a buy rating to a hold rating in a research report on Thursday, July 11th. Robert W. Baird decreased their price target on shares of IDEX from $260.00 to $256.00 and set an outperform rating for the company in a research report on Thursday, April 25th. Oppenheimer upped their price target on shares of IDEX from $245.00 to $252.00 and gave the company an outperform rating in a research report on Thursday, April 18th. Finally, Royal Bank of Canada restated an outperform rating and issued a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $246.57.

IDEX Price Performance

IEX stock opened at $202.97 on Thursday. The company has a 50 day simple moving average of $206.36 and a 200 day simple moving average of $219.86. The stock has a market cap of $15.36 billion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 2.04 and a beta of 0.95. IDEX has a 1 year low of $183.76 and a 1 year high of $246.36. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.45.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The business had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.09 EPS. Research analysts anticipate that IDEX will post 8.27 EPS for the current fiscal year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Friday, July 12th. IDEX’s dividend payout ratio is presently 36.32%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IEX. Albert D Mason Inc. lifted its stake in shares of IDEX by 1.0% in 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 buying an additional 45 shares in the last quarter. Czech National Bank raised its holdings in shares of IDEX by 0.5% in the first quarter. Czech National Bank now owns 13,306 shares of the industrial products company’s stock valued at $3,247,000 after purchasing an additional 61 shares during the last quarter. DB Fitzpatrick & Co Inc raised its holdings in shares of IDEX by 2.4% in the fourth quarter. DB Fitzpatrick & Co Inc now owns 2,833 shares of the industrial products company’s stock valued at $615,000 after purchasing an additional 67 shares during the last quarter. Guinness Asset Management LTD raised its holdings in shares of IDEX by 3.2% in the second quarter. Guinness Asset Management LTD now owns 2,170 shares of the industrial products company’s stock valued at $436,000 after purchasing an additional 68 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of IDEX by 3.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,218 shares of the industrial products company’s stock valued at $446,000 after purchasing an additional 69 shares during the last quarter. 97.96% of the stock is 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.