IDEX Corp. (IEX) Receives $92.00 Average Price Target from Analysts
IDEX Corp. (NYSE:IEX) has earned a consensus rating of “Hold” from the ten brokerages that are covering the company. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $92.00.
A number of analysts have issued reports on IEX shares. Zacks Investment Research downgraded shares of IDEX Corp. from a “hold” rating to a “sell” rating in a report on Thursday, October 13th. RBC Capital Markets set a $101.00 price objective on shares of IDEX Corp. and gave the company a “buy” rating in a report on Wednesday, October 19th. Janney Montgomery Scott raised shares of IDEX Corp. from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $87.00 to $96.00 in a report on Tuesday, July 19th. Jefferies Group reissued a “hold” rating on shares of IDEX Corp. in a report on Tuesday, July 19th. Finally, Stifel Nicolaus boosted their price objective on shares of IDEX Corp. from $88.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, October 19th.
A number of institutional investors have recently added to or reduced their stakes in the company. Synovus Financial Corp boosted its position in IDEX Corp. by 0.6% in the second quarter. Synovus Financial Corp now owns 2,358 shares of the company’s stock worth $192,000 after buying an additional 13 shares in the last quarter. Blair William & Co. IL raised its stake in IDEX Corp. by 0.7% in the second quarter. Blair William & Co. IL now owns 4,517 shares of the company’s stock worth $371,000 after buying an additional 32 shares during the last quarter. Raymond James Trust N.A. raised its stake in IDEX Corp. by 0.8% in the second quarter. Raymond James Trust N.A. now owns 4,662 shares of the company’s stock worth $383,000 after buying an additional 36 shares during the last quarter. KCG Holdings Inc. raised its stake in IDEX Corp. by 0.3% in the second quarter. KCG Holdings Inc. now owns 11,244 shares of the company’s stock worth $923,000 after buying an additional 36 shares during the last quarter. Finally, Washington Trust Bank raised its stake in IDEX Corp. by 3.2% in the second quarter. Washington Trust Bank now owns 1,271 shares of the company’s stock worth $104,000 after buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.
Shares of IDEX Corp. (NYSE:IEX) opened at 92.50 on Wednesday. IDEX Corp. has a 1-year low of $67.20 and a 1-year high of $95.33. The company has a market capitalization of $7.05 billion, a PE ratio of 25.35 and a beta of 1.17. The stock’s 50 day moving average is $88.80 and its 200 day moving average is $87.50.
IDEX Corp. (NYSE:IEX) last posted its quarterly earnings data on Monday, October 17th. The company reported $0.92 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.92. The firm earned $530.40 million during the quarter, compared to the consensus estimate of $536.29 million. IDEX Corp. had a net margin of 13.52% and a return on equity of 19.15%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 EPS. On average, equities research analysts anticipate that IDEX Corp. will post $3.73 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Monday, October 17th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Thursday, October 13th. IDEX Corp.’s dividend payout ratio is 37.06%.
About IDEX Corp.
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).
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