DA Davidson Issues Pessimistic Forecast for IDEX (NYSE:IEX) Stock Price

IDEX (NYSE:IEX) had its price objective cut by DA Davidson from $225.00 to $215.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

IEX has been the topic of several other research reports. Royal Bank of Canada cut their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus upped their target price on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Citigroup dropped their target price on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Robert W. Baird dropped their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $241.71.

IDEX Stock Performance

IEX opened at $198.78 on Wednesday. IDEX has a 52-week low of $189.51 and a 52-week high of $246.36. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The company has a market cap of $15.05 billion, a P/E ratio of 29.89, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97. The firm’s 50-day moving average price is $210.88 and its 200-day moving average price is $211.50.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. As a group, equities analysts anticipate that IDEX will post 8.31 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEX

Several hedge funds have recently bought and sold shares of the stock. Studio Investment Management LLC boosted its position in IDEX by 4.9% in the 3rd quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 45 shares in the last quarter. Bleakley Financial Group LLC boosted its position in IDEX by 4.1% in the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock worth $254,000 after purchasing an additional 48 shares in the last quarter. Albert D Mason Inc. boosted its position in IDEX by 1.3% in the 4th quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock worth $948,000 after purchasing an additional 56 shares in the last quarter. Catalyst Capital Advisors LLC boosted its position in IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 59 shares in the last quarter. Finally, Diversified Trust Co boosted its position in IDEX by 1.0% in the 4th quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock worth $1,300,000 after purchasing an additional 59 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.