IDEX (NYSE:IEX) Stock Rating Upgraded by StockNews.com

IDEX (NYSE:IEX) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

IEX has been the topic of several other reports. Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and increased their price target for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price target on shares of IDEX in a research note on Thursday, March 21st. Finally, Citigroup increased their price target on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, IDEX has a consensus rating of “Moderate Buy” and a consensus target price of $238.00.

IDEX Stock Down 0.6 %

NYSE:IEX traded down $1.37 during mid-day trading on Tuesday, hitting $229.12. The stock had a trading volume of 355,764 shares, compared to its average volume of 379,460. The company has a market capitalization of $17.34 billion, a PE ratio of 29.22, a PEG ratio of 2.32 and a beta of 0.97. IDEX has a twelve month low of $183.76 and a twelve month high of $246.36. The company has a current ratio of 2.89, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37. The stock has a 50-day simple moving average of $236.34 and a two-hundred day simple moving average of $215.73.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.78 by $0.05. The company had revenue of $788.90 million for the quarter, compared to analyst estimates of $767.96 million. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.01 earnings per share. On average, equities research analysts anticipate that IDEX will post 8.35 EPS for the current year.

Hedge Funds Weigh In On IDEX

A number of hedge funds have recently modified their holdings of the business. Pathstone Family Office LLC lifted its holdings in shares of IDEX by 1.2% during the fourth quarter. Pathstone Family Office LLC now owns 3,703 shares of the industrial products company’s stock worth $846,000 after purchasing an additional 45 shares during the period. BOKF NA lifted its holdings in shares of IDEX by 0.3% during the fourth quarter. BOKF NA now owns 13,550 shares of the industrial products company’s stock worth $2,942,000 after purchasing an additional 45 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of IDEX by 2.3% during the third quarter. Avior Wealth Management LLC now owns 2,210 shares of the industrial products company’s stock worth $460,000 after purchasing an additional 49 shares during the period. Ronald Blue Trust Inc. lifted its holdings in shares of IDEX by 7.7% during the third quarter. Ronald Blue Trust Inc. now owns 701 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 50 shares during the period. Finally, CWM LLC lifted its holdings in shares of IDEX by 3.1% during the third quarter. CWM LLC now owns 1,719 shares of the industrial products company’s stock worth $358,000 after purchasing an additional 52 shares during the period. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

About IDEX

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.