According to Zacks, “Over the past six months, IDEX‘s shares have outperformed the industry. The company stands to gain from solid product portfolio, strengthening end-markets and acquired assets in the quarters ahead. Also, its policy of rewarding shareholders handsomely through dividends and buybacks raises its appeal. Earnings are predicted to be $5.70-$5.85 in 2019, higher than $5.60-$5.80 per share mentioned earlier. Organic sales are projected to grow 4-5%. Also, earnings estimates for 2019 and 2020 improved in the past 30 days. However, the company has been dealing with adverse impacts of higher cost of sales and operating expenses for quite some time now. In addition, unfavorable movements in foreign currencies are predicted to adversely impact sales by 1% in 2019 and by roughly 2% in the second quarter.”
A number of other research analysts also recently commented on IEX. Berenberg Bank began coverage on IDEX in a research report on Wednesday, May 15th. They set a “buy” rating and a $180.00 target price for the company. Stifel Nicolaus increased their target price on IDEX from $129.00 to $153.00 and gave the company a “hold” rating in a research report on Tuesday, April 16th. Janney Montgomery Scott downgraded IDEX from a “buy” rating to a “neutral” rating in a research report on Friday, March 29th. Boenning Scattergood reiterated a “hold” rating on shares of IDEX in a research report on Wednesday, January 30th. Finally, Oppenheimer reiterated a “hold” rating on shares of IDEX in a research report on Wednesday, May 8th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $153.10.
IEX stock traded up $2.18 during midday trading on Friday, hitting $152.92. The company’s stock had a trading volume of 4,025 shares, compared to its average volume of 323,016. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.33 and a quick ratio of 2.45. The company has a market capitalization of $11.60 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 2.63 and a beta of 1.27. IDEX has a 12 month low of $117.72 and a 12 month high of $159.51.
IDEX (NYSE:IEX) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.07. The firm had revenue of $622.20 million during the quarter, compared to the consensus estimate of $634.38 million. IDEX had a return on equity of 21.22% and a net margin of 16.92%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 EPS. Sell-side analysts anticipate that IDEX will post 5.82 EPS for the current fiscal year.
In related news, VP Michael J. Yates sold 15,178 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $156.97, for a total transaction of $2,382,490.66. Following the sale, the vice president now owns 38,590 shares in the company, valued at approximately $6,057,472.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Andrew K. Silvernail sold 81,120 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $155.11, for a total value of $12,582,523.20. Following the sale, the chairman now owns 173,947 shares in the company, valued at approximately $26,980,919.17. The disclosure for this sale can be found here. Insiders have sold a total of 114,820 shares of company stock worth $17,704,940 in the last 90 days. 1.20% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Diversified Trust Co raised its holdings in IDEX by 7.3% during the 1st quarter. Diversified Trust Co now owns 1,963 shares of the industrial products company’s stock valued at $298,000 after buying an additional 133 shares during the period. GYL Financial Synergies LLC purchased a new stake in IDEX in the first quarter worth $846,000. Cerebellum GP LLC increased its stake in IDEX by 5.7% in the first quarter. Cerebellum GP LLC now owns 2,179 shares of the industrial products company’s stock worth $331,000 after purchasing an additional 117 shares during the period. Cleararc Capital Inc. purchased a new stake in IDEX in the first quarter worth $295,000. Finally, FMR LLC increased its stake in IDEX by 5.4% in the first quarter. FMR LLC now owns 1,826,878 shares of the industrial products company’s stock worth $277,210,000 after purchasing an additional 93,320 shares during the period. Institutional investors own 95.50% of the company’s stock.
IDEX Company Profile
IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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