Royal Bank of Canada Has Lowered Expectations for IDEX (NYSE:IEX) Stock Price

IDEX (NYSE:IEX) had its price objective cut by stock analysts at Royal Bank of Canada from $256.00 to $245.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 25.22% from the company’s current price.

A number of other brokerages have also recently weighed in on IEX. Robert W. Baird reduced their price target on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Citigroup decreased their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Stifel Nicolaus boosted their price objective on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and an average target price of $241.00.

IDEX Stock Down 1.8 %

Shares of IEX opened at $195.65 on Thursday. The firm has a market cap of $14.82 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 2.21 and a beta of 0.97. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The company’s fifty day moving average is $216.28 and its two-hundred day moving average is $211.85. IDEX has a fifty-two week low of $189.51 and a fifty-two week high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. Analysts forecast that IDEX will post 7.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IEX. Catalyst Capital Advisors LLC raised its position in shares of IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 59 shares in the last quarter. Assetmark Inc. bought a new stake in shares of IDEX in the third quarter worth $39,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 100 shares in the last quarter. Brooklyn Investment Group bought a new position in IDEX during the 3rd quarter valued at $86,000. Finally, Jones Financial Companies Lllp grew its holdings in IDEX by 35.2% during the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

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.