IDEX Corporation’s (IEX) “Hold” Rating Reaffirmed at Jefferies Group LLC
IDEX Corporation (NYSE:IEX)‘s stock had its “hold” rating reaffirmed by Jefferies Group LLC in a report released on Friday.
Several other brokerages have also weighed in on IEX. Zacks Investment Research raised IDEX Corporation from a “hold” rating to a “buy” rating and set a $128.00 target price on the stock in a research report on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $120.00 target price on shares of IDEX Corporation in a research report on Sunday, September 3rd. BMO Capital Markets reaffirmed a “hold” rating and issued a $110.00 target price on shares of IDEX Corporation in a research report on Friday, July 28th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of IDEX Corporation in a research report on Thursday, September 21st. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of IDEX Corporation in a research report on Wednesday, June 21st. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $111.88.
IDEX Corporation (IEX) opened at 123.75 on Friday. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of 33.17 and a beta of 1.19. IDEX Corporation has a 52-week low of $82.05 and a 52-week high of $125.42. The company has a 50-day moving average of $119.43 and a 200-day moving average of $109.94.
IDEX Corporation (NYSE:IEX) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.02. IDEX Corporation had a return on equity of 19.01% and a net margin of 13.12%. The firm had revenue of $573.40 million for the quarter, compared to analyst estimates of $568.43 million. During the same period last year, the company earned $0.99 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities research analysts expect that IDEX Corporation will post $4.23 EPS for the current year.
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In other news, SVP Jeffrey D. Bucklew sold 4,000 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $116.79, for a total value of $467,160.00. Following the completion of the transaction, the senior vice president now owns 6,726 shares of the company’s stock, valued at $785,529.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Andrew K. Silvernail sold 50,000 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total value of $5,750,000.00. Following the completion of the transaction, the chairman now directly owns 142,114 shares of the company’s stock, valued at approximately $16,343,110. The disclosure for this sale can be found here. In the last three months, insiders sold 60,000 shares of company stock valued at $6,909,200. Company insiders own 1.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in IEX. Toronto Dominion Bank bought a new position in shares of IDEX Corporation in the second quarter worth $106,000. Strs Ohio bought a new position in shares of IDEX Corporation in the second quarter worth $112,000. Acrospire Investment Management LLC grew its stake in shares of IDEX Corporation by 1,000.0% in the second quarter. Acrospire Investment Management LLC now owns 1,100 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 1,000 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in shares of IDEX Corporation in the second quarter worth $134,000. Finally, IHT Wealth Management LLC grew its stake in shares of IDEX Corporation by 258.5% in the second quarter. IHT Wealth Management LLC now owns 527 shares of the industrial products company’s stock worth $165,000 after purchasing an additional 380 shares in the last quarter. 98.50% of the stock is owned by institutional investors.
About IDEX Corporation
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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