Robert W. Baird Lowers IDEX (NYSE:IEX) Price Target to $241.00

by · The Cerbat Gem

IDEX (NYSE:IEX – Get Free Report) had its target price cut by Robert W. Baird from $245.00 to $241.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 10.23% from the stock’s current price.

IEX has been the topic of several other research reports. Royal Bank of Canada lowered their price objective on IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Argus downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Stifel Nicolaus increased their price objective on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. TD Cowen cut their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $239.43.

Read Our Latest Stock Analysis on IEX

IDEX Stock Performance

NYSE IEX opened at $218.64 on Thursday. IDEX has a 52-week low of $183.76 and a 52-week high of $246.36. The stock has a market cap of $16.55 billion, a PE ratio of 28.62, a P/E/G ratio of 2.20 and a beta of 0.95. The firm has a 50-day moving average of $206.51 and a 200-day moving average of $207.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.52 and a current ratio of 3.41.

IDEX (NYSE:IEX – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. The company had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.12 earnings per share. On average, sell-side analysts anticipate that IDEX will post 7.87 EPS for the current year.

Institutional Investors Weigh In On IDEX

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Northstar Asset Management Inc. grew its stake in shares of IDEX by 5.6% in the 3rd quarter. Northstar Asset Management Inc. now owns 39,698 shares of the industrial products company’s stock valued at $8,515,000 after buying an additional 2,096 shares during the period. Catalyst Capital Advisors LLC boosted its holdings in IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 59 shares in the last quarter. QRG Capital Management Inc. grew its stake in IDEX by 8.4% in the third quarter. QRG Capital Management Inc. now owns 9,554 shares of the industrial products company’s stock valued at $2,049,000 after acquiring an additional 737 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of IDEX by 0.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 35,343 shares of the industrial products company’s stock worth $7,581,000 after purchasing an additional 95 shares during the period. Finally, Van ECK Associates Corp grew its position in IDEX by 9,424.6% in the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after purchasing an additional 1,021,439 shares during the period. 97.96% of the stock is owned by institutional investors.

IDEX Company Profile

(Get Free Report)

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.

Featured Stories