IDEX Co. (NYSE:IEX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of IDEX Co. (NYSE:IEX) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $241.71.

IEX has been the subject of several research reports. Citigroup dropped their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research note on Monday, January 13th. DA Davidson dropped their price objective on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus increased their price objective on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada dropped their price target on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th.

IDEX Stock Performance

NYSE IEX opened at $187.36 on Monday. 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 firm has a market capitalization of $14.20 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 1.98 and a beta of 0.99. The firm’s 50 day simple moving average is $205.18 and its 200 day simple moving average is $211.36. IDEX has a 1 year low of $183.24 and a 1 year high of $246.36.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, beating the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. As a group, research analysts expect that IDEX will post 8.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEX

Hedge funds have recently bought and sold shares of the company. Banque de Luxembourg S.A. bought a new position in IDEX during the fourth quarter worth $27,000. Assetmark Inc. acquired a new stake in IDEX in the third quarter worth $39,000. Quarry LP acquired a new stake in IDEX in the fourth quarter worth $49,000. Jones Financial Companies Lllp grew its holdings in IDEX by 35.2% in the fourth quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 106 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in IDEX in the third quarter worth $86,000. 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.