Brokerages Set IDEX Co. (NYSE:IEX) PT at $180.43
Shares of IDEX Co. (NYSE:IEX) have been given an average rating of “Hold” by the twelve research firms that are covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $180.43.
Several brokerages have issued reports on IEX. ValuEngine lowered IDEX from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Royal Bank of Canada restated a “buy” rating and issued a $180.00 target price on shares of IDEX in a research note on Wednesday, December 18th. Citigroup began coverage on IDEX in a research note on Monday, September 30th. They issued a “neutral” rating and a $175.00 target price on the stock. Finally, Rosenblatt Securities restated a “buy” rating and issued a $185.00 target price on shares of IDEX in a research note on Wednesday, December 4th.
In other news, CAO Michael J. Yates sold 14,871 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $162.76, for a total value of $2,420,403.96. Following the completion of the transaction, the chief accounting officer now directly owns 6,197 shares in the company, valued at approximately $1,008,623.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jeffrey D. Bucklew sold 1,497 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $162.50, for a total value of $243,262.50. Following the completion of the transaction, the senior vice president now owns 2,625 shares of the company’s stock, valued at $426,562.50. The disclosure for this sale can be found here. Insiders sold a total of 54,543 shares of company stock valued at $8,833,294 over the last quarter. Company insiders own 1.20% of the company’s stock.
Shares of IDEX stock opened at $173.34 on Friday. The business’s fifty day simple moving average is $168.07 and its 200 day simple moving average is $164.82. The firm has a market capitalization of $13.09 billion, a P/E ratio of 32.04, a price-to-earnings-growth ratio of 2.86 and a beta of 1.22. IDEX has a 12 month low of $130.00 and a 12 month high of $174.40. The company has a current ratio of 3.21, a quick ratio of 2.39 and a debt-to-equity ratio of 0.39.
IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.52 EPS for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.06. The business had revenue of $624.20 million for the quarter, compared to analyst estimates of $641.66 million. IDEX had a return on equity of 21.28% and a net margin of 17.05%. IDEX’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $1.41 earnings per share. Analysts predict that IDEX will post 5.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Wednesday, January 15th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Tuesday, January 14th. IDEX’s payout ratio is 36.97%.
IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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