IDEX (NYSE:IEX) Price Target Cut to $210.00 by Analysts at DA Davidson

IDEX (NYSE:IEX) had its target price trimmed by DA Davidson from $220.00 to $210.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Several other research analysts have also recently weighed in on IEX. Robert W. Baird lowered their price target on shares of IDEX from $256.00 to $241.00 and set an outperform rating on the stock in a report on Friday. StockNews.com lowered shares of IDEX from a buy rating to a hold rating in a research report on Thursday, July 11th. Royal Bank of Canada reduced their price target on shares of IDEX from $250.00 to $236.00 and set an outperform rating on the stock in a research report on Friday. Oppenheimer dropped their price objective on shares of IDEX from $245.00 to $238.00 and set an outperform rating for the company in a research note on Monday. Finally, Stifel Nicolaus dropped their price objective on shares of IDEX from $265.00 to $236.00 and set a buy rating for the company in a research note on Thursday, July 18th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $236.00.

IDEX Stock Down 0.0 %

NYSE:IEX traded down $0.09 on Monday, hitting $192.12. 638,146 shares of the company’s stock were exchanged, compared to its average volume of 437,812. The firm has a 50-day moving average price of $202.42 and a 200-day moving average price of $219.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.45. IDEX has a 52 week low of $183.76 and a 52 week high of $246.36. The company has a market cap of $14.54 billion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95.

IDEX (NYSE:IEX) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. The company had revenue of $807.20 million for the quarter, compared to analysts’ expectations of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. IDEX’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.18 EPS. As a group, analysts expect that IDEX will post 7.85 EPS for the current fiscal year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Friday, July 12th. IDEX’s dividend payout ratio is currently 36.32%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IEX. Riverview Trust Co bought a new stake in IDEX in the first quarter worth about $35,000. Quarry LP bought a new position in shares of IDEX in the 4th quarter worth $36,000. EdgeRock Capital LLC bought a new position in shares of IDEX in the 2nd quarter worth $41,000. Whittier Trust Co. increased its holdings in shares of IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after buying an additional 58 shares during the last quarter. Finally, VisionPoint Advisory Group LLC bought a new position in shares of IDEX in the 4th quarter worth $50,000. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

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.