IDEX Co. (NYSE:IEX) Receives $250.71 Consensus Price Target from Brokerages

Shares of IDEX Co. (NYSE:IEX) have received an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $250.71.

A number of equities analysts recently issued reports on the company. Oppenheimer lifted their target price on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. StockNews.com upgraded IDEX from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. Citigroup lifted their price target on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Finally, Robert W. Baird lowered their price target on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. LPL Financial LLC raised its holdings in IDEX by 36.5% during the third quarter. LPL Financial LLC now owns 17,407 shares of the industrial products company’s stock valued at $3,621,000 after buying an additional 4,652 shares in the last quarter. Federated Hermes Inc. raised its holdings in IDEX by 49.0% during the third quarter. Federated Hermes Inc. now owns 447 shares of the industrial products company’s stock valued at $93,000 after buying an additional 147 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in IDEX by 76.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 3,648 shares of the industrial products company’s stock valued at $759,000 after buying an additional 1,582 shares in the last quarter. Truist Financial Corp raised its holdings in IDEX by 10.3% during the third quarter. Truist Financial Corp now owns 65,918 shares of the industrial products company’s stock valued at $13,712,000 after buying an additional 6,129 shares in the last quarter. Finally, AXQ Capital LP bought a new position in IDEX during the third quarter valued at about $366,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of NYSE IEX opened at $195.24 on Wednesday. The company has a quick ratio of 2.45, a current ratio of 3.37 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $14.78 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 1.96 and a beta of 0.95. The stock’s fifty day simple moving average is $209.04 and its 200 day simple moving average is $220.43. IDEX has a 52-week low of $183.76 and a 52-week high of $246.36.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The business had revenue of $801.00 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $2.09 EPS. As a group, sell-side analysts forecast that IDEX will post 8.31 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be paid a $0.69 dividend. The ex-dividend date is Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a yield of 1.41%. IDEX’s dividend payout ratio (DPR) is currently 36.32%.

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.