IDEX (NYSE:IEX) Price Target Increased to $244.00 by Analysts at Stifel Nicolaus

IDEX (NYSE:IEX) had its price target increased by Stifel Nicolaus from $232.00 to $244.00 in a research note released on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the industrial products company’s stock.

A number of other research firms have also weighed in on IEX. Oppenheimer reduced their target price on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. TD Cowen lowered their target price on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada dropped their target price on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. DA Davidson decreased their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Finally, Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $239.43.

IDEX Stock Performance

NYSE:IEX opened at $210.58 on Wednesday. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $15.94 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95. IDEX has a twelve month low of $183.76 and a twelve month high of $246.36. The stock’s 50-day simple moving average is $204.19 and its 200 day simple moving average is $209.84.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The company had revenue of $807.20 million for the quarter, compared to analyst estimates of $828.15 million. During the same period in the previous year, the firm posted $2.18 EPS. The firm’s revenue was down 4.6% on a year-over-year basis. On average, analysts anticipate that IDEX will post 7.88 EPS for the current fiscal year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a dividend of $0.69 per share. The ex-dividend date is Friday, October 11th. This represents a $2.76 dividend on an annualized basis and a yield of 1.31%. IDEX’s dividend payout ratio (DPR) is currently 36.32%.

Institutional Trading of IDEX

Several institutional investors and hedge funds have recently modified their holdings of the stock. Riverview Trust Co purchased a new stake in IDEX in the 1st quarter valued at $35,000. EdgeRock Capital LLC purchased a new stake in shares of IDEX in the second quarter valued at about $41,000. Whittier Trust Co. lifted its position in shares of IDEX by 38.4% during the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 58 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in IDEX by 100.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares during the last quarter. Finally, UMB Bank n.a. grew its position in IDEX by 31.0% in the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 57 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other 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.