Oppenheimer Boosts IDEX (NYSE:IEX) Price Target to $252.00

IDEX (NYSE:IEXGet Free Report) had its price objective raised by Oppenheimer from $245.00 to $252.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price objective indicates a potential upside of 11.10% from the company’s current price.

Several other analysts have also issued reports on the company. StockNews.com upgraded IDEX from a “hold” rating to a “buy” rating in a report on Tuesday. Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and increased their price objective for the company from $215.00 to $265.00 in a report on Thursday, February 8th. Royal Bank of Canada restated an “outperform” rating and set a $255.00 target price on shares of IDEX in a report on Thursday, March 21st. Finally, Citigroup lifted their price objective on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.78.

View Our Latest Analysis on IDEX

IDEX Stock Down 1.1 %

Shares of IDEX stock opened at $226.83 on Thursday. The firm has a market cap of $17.17 billion, a PE ratio of 28.93, a P/E/G ratio of 2.29 and a beta of 0.97. The business’s 50 day simple moving average is $236.43 and its 200 day simple moving average is $215.81. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 2.89. IDEX has a 52-week low of $183.76 and a 52-week high of $246.36.

IDEX (NYSE:IEXGet Free Report) last announced 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. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The business had revenue of $788.90 million during the quarter, compared to analysts’ expectations of $767.96 million. During the same quarter in the prior year, the company posted $2.01 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. On average, analysts predict that IDEX will post 8.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust increased its stake in shares of IDEX by 120.3% during the first quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 77 shares during the period. Planned Solutions Inc. acquired a new position in IDEX in the 4th quarter valued at $33,000. Clear Street Markets LLC lifted its holdings in shares of IDEX by 94.7% during the first quarter. Clear Street Markets LLC now owns 148 shares of the industrial products company’s stock worth $34,000 after buying an additional 72 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of IDEX during the first quarter worth $35,000. Finally, Quarry LP bought a new stake in shares of IDEX in the fourth quarter valued at about $36,000. 97.96% of the stock is owned by institutional investors.

IDEX Company Profile

(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.

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