IDEX Corporation’s (IEX) Hold Rating Reaffirmed at Jefferies Group LLC
IDEX Corporation (NYSE:IEX)‘s stock had its “hold” rating restated by analysts at Jefferies Group LLC in a research note issued on Friday. They currently have a $91.00 price target on the industrial products company’s stock. Jefferies Group LLC’s price objective indicates a potential downside of 21.70% from the stock’s previous close.
A number of other analysts also recently weighed in on IEX. Zacks Investment Research raised shares of IDEX Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, April 6th. Royal Bank Of Canada reissued a “hold” rating and set a $99.00 target price on shares of IDEX Corporation in a research report on Tuesday, April 11th. BMO Capital Markets reissued a “hold” rating and set a $104.00 target price on shares of IDEX Corporation in a research report on Friday, April 21st. Stifel Nicolaus reissued a “hold” rating and set a $100.00 target price (up previously from $94.00) on shares of IDEX Corporation in a research report on Friday, April 21st. Finally, Robert W. Baird reissued a “buy” rating and set a $104.00 target price on shares of IDEX Corporation in a research report on Friday, April 21st. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $105.00.
IDEX Corporation (IEX) opened at 116.22 on Friday. The company has a market cap of $8.88 billion, a price-to-earnings ratio of 31.15 and a beta of 1.20. IDEX Corporation has a 1-year low of $82.05 and a 1-year high of $118.08. The company’s 50-day moving average is $113.58 and its 200 day moving average is $101.46.
IDEX Corporation (NYSE:IEX) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. The business had revenue of $573.40 million during the quarter, compared to the consensus estimate of $568.43 million. IDEX Corporation had a net margin of 13.12% and a return on equity of 19.01%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. On average, equities analysts predict that IDEX Corporation will post $4.22 EPS for the current fiscal year.
WARNING: This piece of content was reported by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another domain, it was copied illegally and republished in violation of international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.dailypolitical.com/2017/08/06/idex-corporations-iex-hold-rating-reaffirmed-at-jefferies-group-llc.html.
In other IDEX Corporation news, Chairman Andrew K. Silvernail sold 50,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total transaction of $5,750,000.00. Following the transaction, the chairman now directly owns 142,114 shares in the company, valued at approximately $16,343,110. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Strs Ohio acquired a new position in IDEX Corporation during the second quarter worth about $112,000. Creative Planning boosted its position in IDEX Corporation by 4.3% in the first quarter. Creative Planning now owns 1,422 shares of the industrial products company’s stock worth $133,000 after buying an additional 59 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in IDEX Corporation during the second quarter worth about $181,000. Wallington Asset Management LLC acquired a new position in IDEX Corporation during the second quarter worth about $203,000. Finally, Diversified Trust Co acquired a new position in IDEX Corporation during the first quarter worth about $207,000. Hedge funds and other institutional investors own 98.73% of the company’s stock.
IDEX Corporation Company Profile
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
Receive News & Ratings for IDEX Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX Corporation and related companies with MarketBeat.com's FREE daily email newsletter.