IDEX (NYSE:IEX) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of IDEX (NYSE:IEX) from a buy rating to a hold rating in a report issued on Wednesday morning.

Other research analysts also recently issued research reports about the company. Oppenheimer lifted their price objective on IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a report on Thursday, April 18th. Royal Bank of Canada reissued an outperform rating and issued a $255.00 target price on shares of IDEX in a research note on Thursday, March 21st. Citigroup raised their target price on IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus raised IDEX from a hold rating to a buy rating and raised their target price for the stock from $215.00 to $265.00 in a research note on Thursday, February 8th. Two 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.com, IDEX presently has a consensus rating of Moderate Buy and an average target price of $241.67.

IDEX Trading Down 1.2 %

NYSE IEX opened at $220.66 on Wednesday. The stock’s 50-day simple moving average is $236.36 and its two-hundred day simple moving average is $216.75. IDEX has a twelve month low of $183.76 and a twelve month high of $246.36. The company has a quick ratio of 2.05, a current ratio of 3.37 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $16.70 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 2.23 and a beta of 0.97.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.76 by $0.12. The firm had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 earnings per share. Research analysts forecast that IDEX will post 8.34 EPS for the current fiscal year.

Institutional Trading of IDEX

Several large investors have recently bought and sold shares of the company. Yousif Capital Management LLC boosted its position in IDEX by 22.1% during the 1st quarter. Yousif Capital Management LLC now owns 12,857 shares of the industrial products company’s stock valued at $3,137,000 after acquiring an additional 2,324 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in IDEX by 2.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,680 shares of the industrial products company’s stock valued at $28,960,000 after acquiring an additional 2,548 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in IDEX by 8.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 23,018 shares of the industrial products company’s stock valued at $5,617,000 after acquiring an additional 1,800 shares in the last quarter. Peterson Financial Group Inc. boosted its position in IDEX by 40.1% during the 1st quarter. Peterson Financial Group Inc. now owns 15,369 shares of the industrial products company’s stock valued at $3,750,000 after acquiring an additional 4,399 shares in the last quarter. Finally, Albert D Mason Inc. boosted its position in IDEX by 1.0% during the 1st quarter. Albert D Mason Inc. now owns 4,509 shares of the industrial products company’s stock valued at $1,100,000 after acquiring an additional 45 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

IDEX Company Profile

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.