IDEX (IEX) Earns Neutral Rating from Analysts at Boenning Scattergood
Research analysts at Boenning Scattergood initiated coverage on shares of IDEX (NYSE:IEX) in a note issued to investors on Thursday, Marketbeat reports. The brokerage set a “neutral” rating on the industrial products company’s stock.
Several other equities analysts also recently issued reports on IEX. Zacks Investment Research upgraded IDEX from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a research report on Monday, July 30th. Robert W. Baird reiterated a “buy” rating and set a $143.00 price objective on shares of IDEX in a research report on Friday, July 20th. Oppenheimer reiterated a “hold” rating on shares of IDEX in a research report on Wednesday, July 25th. Wells Fargo & Co reiterated a “buy” rating and set a $170.00 price objective (up from $165.00) on shares of IDEX in a research report on Wednesday, July 25th. Finally, Stifel Nicolaus boosted their price objective on IDEX from $149.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, October 8th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $148.20.
Shares of NYSE:IEX traded up $2.31 during trading on Thursday, hitting $136.49. 538,116 shares of the company traded hands, compared to its average volume of 308,908. The firm has a market capitalization of $11.55 billion, a PE ratio of 31.67, a price-to-earnings-growth ratio of 2.57 and a beta of 1.20. IDEX has a one year low of $120.93 and a one year high of $157.84. The company has a current ratio of 3.21, a quick ratio of 2.39 and a debt-to-equity ratio of 0.43.
In other IDEX news, CFO William K. Grogan sold 3,406 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $152.90, for a total value of $520,777.40. Following the completion of the sale, the chief financial officer now directly owns 5,485 shares in the company, valued at $838,656.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Andrew K. Silvernail sold 94,045 shares of the company’s stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $145.00, for a total value of $13,636,525.00. Following the completion of the sale, the chairman now owns 149,451 shares of the company’s stock, valued at $21,670,395. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 139,858 shares of company stock valued at $20,573,870. Insiders own 1.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IEX. SRS Capital Advisors Inc. lifted its position in IDEX by 83.0% in the second quarter. SRS Capital Advisors Inc. now owns 745 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 338 shares during the period. Fort L.P. acquired a new stake in IDEX in the second quarter worth approximately $118,000. Point72 Hong Kong Ltd acquired a new stake in IDEX in the second quarter worth approximately $153,000. Qube Research & Technologies Ltd acquired a new stake in IDEX in the second quarter worth approximately $155,000. Finally, Gateway Investment Advisers LLC acquired a new stake in IDEX in the second quarter worth approximately $208,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.
IDEX Corporation, through its subsidiaries, provides various pumps, valves, flow meters, other fluidics systems and components, and engineered products worldwide. Its Fluid & Metering Technologies segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, other fluid-handling pump modules and systems, and specialty valve products, as well as offers flow monitoring and other services for food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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