IDEX Corporation (NYSE:IEX) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other research firms have also recently weighed in on IEX. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $115.00 price target (up previously from $109.00) on shares of IDEX Corporation in a report on Thursday, July 27th. Zacks Investment Research cut shares of IDEX Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. BMO Capital Markets reiterated a “hold” rating and issued a $110.00 price target on shares of IDEX Corporation in a report on Friday, July 28th. Jefferies Group LLC reiterated a “hold” rating and issued a $91.00 price target on shares of IDEX Corporation in a report on Friday, August 4th. Finally, Cowen and Company lifted their price target on shares of IDEX Corporation from $80.00 to $95.00 and gave the company a “market perform” rating in a report on Wednesday, July 5th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $105.00.

Shares of IDEX Corporation (IEX) opened at 113.12 on Friday. IDEX Corporation has a 52 week low of $82.05 and a 52 week high of $118.08. The firm has a market cap of $8.65 billion, a PE ratio of 30.32 and a beta of 1.20. The firm has a 50-day moving average of $114.25 and a 200 day moving average of $102.64.

IDEX Corporation (NYSE:IEX) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.02. The business had revenue of $573.40 million for the quarter, compared to analysts’ expectations of $568.43 million. IDEX Corporation had a net margin of 13.12% and a return on equity of 19.01%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 earnings per share. Equities research analysts predict that IDEX Corporation will post $4.22 EPS for the current fiscal year.

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In other IDEX Corporation news, Chairman Andrew K. Silvernail sold 50,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chairman now owns 142,114 shares of the company’s stock, valued at $16,343,110. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in IDEX Corporation by 8.8% in the second quarter. BlackRock Inc. now owns 6,993,420 shares of the industrial products company’s stock valued at $790,326,000 after buying an additional 568,369 shares in the last quarter. Vanguard Group Inc. raised its position in IDEX Corporation by 2.1% in the second quarter. Vanguard Group Inc. now owns 6,380,482 shares of the industrial products company’s stock valued at $721,058,000 after buying an additional 134,086 shares in the last quarter. Wellington Management Group LLP raised its position in IDEX Corporation by 1.4% in the first quarter. Wellington Management Group LLP now owns 2,830,339 shares of the industrial products company’s stock valued at $264,665,000 after buying an additional 39,295 shares in the last quarter. State Street Corp raised its position in IDEX Corporation by 3.1% in the first quarter. State Street Corp now owns 1,986,385 shares of the industrial products company’s stock valued at $185,741,000 after buying an additional 59,393 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in IDEX Corporation by 5.4% in the second quarter. Alliancebernstein L.P. now owns 1,801,923 shares of the industrial products company’s stock valued at $203,635,000 after buying an additional 92,345 shares in the last quarter. 98.68% of the stock is owned by institutional investors and hedge funds.

About IDEX Corporation

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).

Analyst Recommendations for IDEX Corporation (NYSE:IEX)

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