IDEX Co. (IEX) Receives Consensus Rating of “Hold” from Analysts

Shares of IDEX Co. (NYSE:IEX) have received an average rating of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $114.86.

IEX has been the topic of several recent research reports. BMO Capital Markets reiterated a “hold” rating and issued a $110.00 price target on shares of IDEX in a report on Wednesday, September 6th. Jefferies Group LLC reiterated a “hold” rating and issued a $91.00 price target on shares of IDEX in a report on Friday, August 4th. Royal Bank Of Canada raised their price target on IDEX from $124.00 to $126.00 and gave the company a “sector perform” rating in a report on Wednesday, October 18th. Seaport Global Securities reiterated a “neutral” rating on shares of IDEX in a report on Wednesday, October 18th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of IDEX in a report on Thursday, September 21st.

In other IDEX news, SVP Daniel J. Salliotte sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $115.34, for a total transaction of $692,040.00. Following the transaction, the senior vice president now owns 33,762 shares in the company, valued at $3,894,109.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Jeffrey D. Bucklew sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $116.79, for a total value of $467,160.00. Following the transaction, the senior vice president now owns 6,726 shares in the company, valued at approximately $785,529.54. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of IDEX by 8.8% during the second quarter. BlackRock Inc. now owns 6,993,420 shares of the industrial products company’s stock worth $790,326,000 after purchasing an additional 568,369 shares during the period. Vanguard Group Inc. raised its position in IDEX by 2.1% in the 2nd 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 during the last quarter. Capital World Investors raised its position in IDEX by 0.4% in the 2nd quarter. Capital World Investors now owns 5,989,771 shares of the industrial products company’s stock valued at $676,904,000 after buying an additional 24,401 shares during the last quarter. State Street Corp raised its position in IDEX by 20.6% in the 2nd quarter. State Street Corp now owns 2,396,039 shares of the industrial products company’s stock valued at $270,781,000 after buying an additional 409,654 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in IDEX by 5.4% in the 2nd 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 during the last quarter. 98.26% of the stock is currently owned by institutional investors.

Shares of IDEX (IEX) traded up $0.38 during mid-day trading on Monday, hitting $130.69. The stock had a trading volume of 73,900 shares, compared to its average volume of 306,419. The company has a quick ratio of 2.04, a current ratio of 2.84 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $9,980.00, a PE ratio of 31.49, a PEG ratio of 2.36 and a beta of 1.22. IDEX has a 12 month low of $88.29 and a 12 month high of $130.98.

IDEX (NYSE:IEX) last announced its earnings results on Monday, October 16th. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.06 by $0.02. The company had revenue of $574.50 million for the quarter, compared to analysts’ expectations of $563.23 million. IDEX had a return on equity of 19.07% and a net margin of 13.48%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. equities research analysts forecast that IDEX will post 4.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Friday, October 13th. IDEX’s dividend payout ratio (DPR) is currently 37.95%.

COPYRIGHT VIOLATION NOTICE: This piece of content was first posted by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The correct version of this piece of content can be viewed at https://stocknewstimes.com/2017/12/06/idex-co-iex-receives-consensus-rating-of-hold-from-analysts.html.

About IDEX

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 (NYSE:IEX)

Receive News & Ratings for IDEX Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply