IDEX (NYSE:IEX) Given New $201.00 Price Target at Citigroup

IDEX (NYSE:IEX) had its price objective trimmed by Citigroup from $264.00 to $201.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

IEX has been the topic of several other reports. Stifel Nicolaus decreased their price target on shares of IDEX from $256.00 to $192.00 and set a “buy” rating on the stock in a research note on Monday. Royal Bank of Canada decreased their price objective on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Finally, DA Davidson dropped their target price 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $223.14.

IDEX Price Performance

IEX stock opened at $164.28 on Monday. The firm has a 50 day moving average of $183.35 and a 200-day moving average of $205.55. The company has a market cap of $12.41 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 1.98 and a beta of 1.05. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. IDEX has a 12-month low of $153.36 and a 12-month high of $238.22.

IDEX (NYSE:IEX) last announced 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%. As a group, equities analysts expect that IDEX will post 8.26 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEX

A number of large investors have recently modified their holdings of IEX. MassMutual Private Wealth & Trust FSB grew its holdings in IDEX by 81.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 64 shares in the last quarter. Banque de Luxembourg S.A. purchased a new position in IDEX in the 4th quarter valued at about $27,000. UMB Bank n.a. grew its stake in IDEX by 63.5% during the 1st quarter. UMB Bank n.a. now owns 224 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 87 shares in the last quarter. Quarry LP purchased a new stake in IDEX during the 4th quarter worth approximately $49,000. Finally, Versant Capital Management Inc raised its position in shares of IDEX by 970.7% in the 1st quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company’s stock valued at $79,000 after purchasing an additional 398 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

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.