Royal Bank of Canada Raises IDEX (NYSE:IEX) Price Target to $255.00

IDEX (NYSE:IEXFree Report) had its price objective upped by Royal Bank of Canada from $234.00 to $255.00 in a research report released on Thursday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the industrial products company’s stock.

Several other analysts have also recently commented on IEX. Stifel Nicolaus raised IDEX from a hold rating to a buy rating and raised their target price for the stock from $215.00 to $265.00 in a research report on Thursday. Oppenheimer reissued an outperform rating and set a $245.00 price objective on shares of IDEX in a research report on Thursday, October 19th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $235.56.

Read Our Latest Stock Report on IDEX

IDEX Stock Performance

IEX opened at $228.20 on Thursday. The firm has a market cap of $17.26 billion, a PE ratio of 29.11, a P/E/G ratio of 2.26 and a beta of 0.96. The company has a quick ratio of 2.20, a current ratio of 2.89 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $211.81 and a 200-day simple moving average of $209.74. IDEX has a fifty-two week low of $183.76 and a fifty-two week high of $231.61.

IDEX (NYSE:IEXGet Free Report) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.78 by $0.05. The business 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%. IDEX’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.01 earnings per share. As a group, equities analysts predict that IDEX will post 8.31 EPS for the current fiscal year.

Hedge Funds Weigh In On IDEX

Several institutional investors have recently bought and sold shares of the stock. Pathstone Family Office LLC raised its holdings in IDEX by 1.2% during the fourth quarter. Pathstone Family Office LLC now owns 3,703 shares of the industrial products company’s stock valued at $846,000 after buying an additional 45 shares in the last quarter. Avior Wealth Management LLC raised its holdings in IDEX by 2.3% during the third quarter. Avior Wealth Management LLC now owns 2,210 shares of the industrial products company’s stock valued at $460,000 after buying an additional 49 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in IDEX by 43.9% during the second quarter. EverSource Wealth Advisors LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after buying an additional 50 shares in the last quarter. Ronald Blue Trust Inc. raised its holdings in IDEX by 7.7% during the third quarter. Ronald Blue Trust Inc. now owns 701 shares of the industrial products company’s stock valued at $151,000 after buying an additional 50 shares in the last quarter. Finally, CWM LLC raised its holdings in IDEX by 3.1% during the third quarter. CWM LLC now owns 1,719 shares of the industrial products company’s stock valued at $358,000 after buying an additional 52 shares in the last quarter. 94.85% of the stock is currently owned by institutional investors.

About IDEX

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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.

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Analyst Recommendations for IDEX (NYSE:IEX)

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