IDEX (NYSE:IEX) Hits New 1-Year Low – Here’s What Happened

IDEX Co. (NYSE:IEX)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $182.31 and last traded at $181.66, with a volume of 44018 shares changing hands. The stock had previously closed at $186.23.

Analysts Set New Price Targets

IEX has been the subject of several recent analyst reports. Citigroup lowered their target price on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada lowered their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus lifted their price target on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, DA Davidson decreased their price target on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $241.71.

IDEX Stock Performance

The stock has a fifty day moving average price of $203.70 and a two-hundred day moving average price of $210.93. The company has a market cap of $13.78 billion, a P/E ratio of 27.43, a PEG ratio of 1.98 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85.

IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. On average, equities analysts forecast that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IEX. Principal Financial Group Inc. increased its stake in shares of IDEX by 3.0% during the third quarter. Principal Financial Group Inc. now owns 95,836 shares of the industrial products company’s stock valued at $20,557,000 after acquiring an additional 2,820 shares during the period. Assetmark Inc. acquired a new position in shares of IDEX during the third quarter valued at approximately $39,000. Mesirow Financial Investment Management Inc. acquired a new position in shares of IDEX during the third quarter valued at approximately $201,000. Apollon Wealth Management LLC increased its stake in shares of IDEX by 7.2% during the third quarter. Apollon Wealth Management LLC now owns 5,979 shares of the industrial products company’s stock valued at $1,283,000 after acquiring an additional 399 shares during the period. Finally, Entropy Technologies LP acquired a new position in IDEX in the third quarter worth approximately $1,931,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Company Profile

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.