Stifel Nicolaus Has Lowered Expectations for IDEX (NYSE:IEX) Stock Price

IDEX (NYSE:IEX) had its target price cut by stock analysts at Stifel Nicolaus from $256.00 to $192.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 13.16% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Royal Bank of Canada decreased their price objective on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. DA Davidson decreased their price target on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Finally, Citigroup cut their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, IDEX currently has an average rating of “Moderate Buy” and a consensus price target of $232.57.

IDEX Stock Up 0.7 %

IEX traded up $1.16 during trading on Monday, reaching $169.67. The company had a trading volume of 61,440 shares, compared to its average volume of 612,776. The business’s fifty day moving average price is $185.17 and its 200 day moving average price is $206.42. 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 has a 12 month low of $153.36 and a 12 month high of $238.22. The company has a market cap of $12.82 billion, a P/E ratio of 25.51, a PEG ratio of 1.98 and a beta of 1.05.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. Equities analysts anticipate that IDEX will post 8.26 EPS for the current year.

Hedge Funds Weigh In On IDEX

Institutional investors have recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its stake in IDEX by 81.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 64 shares during the last quarter. Banque de Luxembourg S.A. acquired a new stake in IDEX in the 4th quarter valued at about $27,000. Quarry LP bought a new position in IDEX during the fourth quarter worth about $49,000. Versant Capital Management Inc increased its position in IDEX by 970.7% during the first quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company’s stock worth $79,000 after buying an additional 398 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in IDEX by 35.2% in the fourth quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock valued at $85,000 after buying an additional 106 shares during the period. 97.96% of the stock is currently owned by institutional investors and hedge funds.

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.