IDEX (NYSE:IEX) Raised to “Buy” at Stifel Nicolaus

Stifel Nicolaus upgraded shares of IDEX (NYSE:IEXFree Report) from a hold rating to a buy rating in a report issued on Thursday morning, MarketBeat reports. The brokerage currently has $265.00 target price on the industrial products company’s stock, up from their previous target price of $215.00.

Separately, Oppenheimer restated an outperform rating and issued a $245.00 price objective on shares of IDEX in a report on Thursday, October 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $235.56.

View Our Latest Research Report on IDEX

IDEX Stock Up 1.0 %

Shares of NYSE:IEX opened at $228.20 on Thursday. The firm has a market capitalization of $17.26 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.20 and a current ratio of 2.89. IDEX has a 52-week low of $183.76 and a 52-week high of $231.61. The firm has a fifty day moving average of $211.81 and a 200 day moving average of $209.74.

IDEX (NYSE:IEXGet Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. The firm had revenue of $788.90 million during the quarter, compared to analysts’ expectations of $767.96 million. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.01 EPS. As a group, research analysts anticipate that IDEX will post 8.31 EPS for the current fiscal year.

Hedge Funds Weigh In On IDEX

Several large investors have recently added to or reduced their stakes in IEX. Morgan Stanley raised its position in shares of IDEX by 274.1% during the 4th quarter. Morgan Stanley now owns 2,151,334 shares of the industrial products company’s stock valued at $491,214,000 after purchasing an additional 1,576,263 shares during the period. Norges Bank bought a new stake in IDEX during the fourth quarter valued at about $237,425,000. Alecta Tjanstepension Omsesidigt lifted its position in shares of IDEX by 420.8% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock valued at $169,600,000 after acquiring an additional 631,172 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of IDEX by 10.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,269,952 shares of the industrial products company’s stock worth $746,628,000 after acquiring an additional 306,008 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of IDEX by 316.9% during the third quarter. Ameriprise Financial Inc. now owns 368,849 shares of the industrial products company’s stock worth $76,667,000 after purchasing an additional 280,385 shares in the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

About IDEX

(Get Free Report)

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.

Further Reading

Analyst Recommendations for IDEX (NYSE:IEX)

Receive News & Ratings for IDEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX and related companies with MarketBeat.com's FREE daily email newsletter.