DA Davidson Issues Pessimistic Forecast for IDEX (NYSE:IEX) Stock Price

IDEX (NYSE:IEX) had its price objective decreased by DA Davidson from $225.00 to $215.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. DA Davidson’s price objective would indicate a potential upside of 9.46% from the stock’s current price.

IEX has been the subject of several other research reports. Citigroup reduced their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Robert W. Baird lowered their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada decreased their price objective on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $241.71.

IDEX Trading Up 0.0 %

IEX stock traded up $0.05 during midday trading on Wednesday, hitting $196.42. The stock had a trading volume of 66,145 shares, compared to its average volume of 531,784. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average price of $211.46 and a two-hundred day moving average price of $211.59. IDEX has a 1-year low of $189.51 and a 1-year high of $246.36. The firm has a market cap of $14.87 billion, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. On average, sell-side analysts predict that IDEX will post 8.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEX

Several large investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of IDEX by 2.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 168,023 shares of the industrial products company’s stock worth $36,041,000 after purchasing an additional 4,465 shares in the last quarter. Cerity Partners LLC grew its stake in IDEX by 48.3% in the 3rd quarter. Cerity Partners LLC now owns 20,632 shares of the industrial products company’s stock valued at $4,426,000 after buying an additional 6,720 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in IDEX by 7.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 250,443 shares of the industrial products company’s stock valued at $53,720,000 after acquiring an additional 16,504 shares during the period. Covea Finance lifted its position in shares of IDEX by 70.6% during the fourth quarter. Covea Finance now owns 14,500 shares of the industrial products company’s stock worth $3,035,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of IDEX by 1.2% in the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock worth $252,603,000 after acquiring an additional 14,360 shares during the period. Hedge funds and other 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.