Stifel Nicolaus Cuts IDEX (NYSE:IEX) Price Target to $192.00

IDEX (NYSE:IEX) had its price objective decreased by Stifel Nicolaus from $256.00 to $192.00 in a report issued on Monday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the industrial products company’s stock.

Several other research analysts have also recently issued reports on IEX. Citigroup cut their target price on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada dropped their target price on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Finally, DA Davidson cut their price objective on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.14.

IDEX Stock Performance

NYSE:IEX opened at $164.28 on Monday. IDEX has a 1-year low of $153.36 and a 1-year high of $238.22. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. The business has a 50 day moving average of $183.35 and a 200 day moving average of $205.55. The company has a market capitalization of $12.41 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 1.98 and a beta of 1.05.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. On average, sell-side analysts predict that IDEX will post 8.26 earnings per share for the current fiscal year.

Institutional Trading of IDEX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Asset Management One Co. Ltd. boosted its holdings in IDEX by 4.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company’s stock worth $6,386,000 after acquiring an additional 1,209 shares in the last quarter. Assetmark Inc. lifted its stake in shares of IDEX by 129.1% in the fourth quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock worth $87,000 after buying an additional 235 shares in the last quarter. Covea Finance boosted its stake in IDEX by 70.6% during the 4th quarter. Covea Finance now owns 14,500 shares of the industrial products company’s stock valued at $3,035,000 after purchasing an additional 6,000 shares during the last quarter. Barclays PLC increased its holdings in shares of IDEX by 1.2% in the 3rd quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock worth $252,603,000 after purchasing an additional 14,360 shares in the last quarter. Finally, Park Avenue Securities LLC raised its stake in shares of IDEX by 27.0% in the fourth quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company’s stock worth $488,000 after purchasing an additional 495 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

About IDEX

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.