Royal Bank Of Canada started coverage on shares of IDEX (NYSE:IEX – Get Free Report) in a report released on Thursday, Marketbeat Ratings reports. The brokerage set a “moderate buy” rating and a $283.00 price target on the industrial products company’s stock. Royal Bank Of Canada‘s target price indicates a potential upside of 21.08% from the stock’s previous close.
Several other analysts also recently commented on IEX. Mizuho upgraded shares of IDEX from a “neutral” rating to an “outperform” rating and increased their target price for the company from $210.00 to $280.00 in a report on Tuesday, August 11th. DA Davidson set a $245.00 price objective on shares of IDEX in a research report on Thursday. Stifel Nicolaus increased their price objective on shares of IDEX from $267.00 to $273.00 and gave the company a “buy” rating in a research note on Thursday. KeyCorp raised IDEX to a “hold” rating in a report on Monday, October 12th. Finally, Argus upped their target price on IDEX from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $263.64.
View Our Latest Stock Analysis on IEX
IDEX Stock Down 2.3%
Shares of NYSE:IEX opened at $233.73 on Thursday. The business’s 50 day moving average is $230.11 and its 200 day moving average is $215.96. IDEX has a 12-month low of $160.60 and a 12-month high of $243.80. The stock has a market cap of $17.17 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.68 and a beta of 0.97. The company has a quick ratio of 2.15, a current ratio of 2.78 and a debt-to-equity ratio of 0.44.
IDEX (NYSE:IEX – Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.09. IDEX had a return on equity of 16.18% and a net margin of 14.65%. The business had revenue of $951.70 million during the quarter, compared to analyst estimates of $934.36 million. During the same period in the prior year, the firm posted $2.03 EPS. IDEX’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts forecast that IDEX will post 8.94 earnings per share for the current fiscal year.
Insider Activity
In other news, CAO Lisa Anderson sold 385 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $238.59, for a total transaction of $91,857.15. Following the transaction, the chief accounting officer owned 4,327 shares of the company’s stock, valued at $1,032,378.93. This represents a 8.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by insiders.
Institutional Investors Weigh In On IDEX
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Burkett Financial Services LLC bought a new stake in IDEX during the third quarter valued at $27,000. Optiver Holding B.V. bought a new position in IDEX in the 1st quarter worth about $27,000. Quantbot Technologies LP bought a new position in IDEX in the 2nd quarter worth about $33,000. Elevation Wealth Partners LLC raised its holdings in shares of IDEX by 42.7% in the 3rd quarter. Elevation Wealth Partners LLC now owns 147 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 44 shares in the last quarter. Finally, SJS Investment Consulting Inc. raised its holdings in shares of IDEX by 104.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 149 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 76 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors.
IDEX Company Profile
IDEX Corporation is an industrial manufacturing company headquartered in Lake Forest, Illinois. The company designs and produces engineered products and technologies used to move, control, measure and apply fluids, as well as equipment used in fire and safety applications.
IDEX operates through businesses serving fluid and metering technologies, health and science technologies, and fire and safety markets. Its products include pumps, valves, flow meters, compressors, dispensing equipment, precision fluidics components and systems, fire pumps, rescue tools and other specialized equipment.
The company serves a broad range of industries, including healthcare, life sciences, water and wastewater, chemical processing, energy, food and beverage, agriculture, industrial manufacturing and municipal fire protection.
See Also
- Five stocks we like better than IDEX
- Why JFrog Could Be the Software Infrastructure Company to Beat in the AI Boom
- The Factories Behind AI Servers Just Raised Their Outlooks—3 Contract Manufacturers to Watch
- MarketBeat Week in Review – 10/26 – 10/30
- Amazon’s Record Margins Couldn’t Stop the Sell-Off—Here’s Why
Receive News & Ratings for IDEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX and related companies with MarketBeat.com's FREE daily email newsletter.
-logo-1200x675.jpg){kind=logo}