IDEX (NYSE:IEX) Coverage Initiated at Rosenblatt Securities

Rosenblatt Securities initiated coverage on shares of IDEX (NYSE:IEX) in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage set a “buy” rating and a $185.00 price target on the industrial products company’s stock. Rosenblatt Securities’ price target suggests a potential upside of 15.90% from the company’s current price.

Other research analysts have also issued research reports about the company. Stifel Nicolaus boosted their price target on IDEX from $157.00 to $162.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Co reduced their price target on IDEX from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Citigroup initiated coverage on IDEX in a research report on Monday, September 30th. They set a “neutral” rating and a $175.00 price target for the company. Finally, ValuEngine lowered IDEX from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $174.14.

IEX traded down $0.76 during trading on Thursday, reaching $159.62. 211,681 shares of the company were exchanged, compared to its average volume of 464,973. The stock has a market cap of $12.21 billion, a P/E ratio of 29.50, a PEG ratio of 2.76 and a beta of 1.21. The firm has a 50 day moving average of $159.81 and a 200 day moving average of $161.59. The company has a current ratio of 3.21, a quick ratio of 2.39 and a debt-to-equity ratio of 0.39. IDEX has a 52 week low of $117.72 and a 52 week high of $173.84.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.52 EPS for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.06. IDEX had a return on equity of 21.28% and a net margin of 17.05%. The firm had revenue of $624.20 million during the quarter, compared to the consensus estimate of $641.66 million. During the same period in the prior year, the business earned $1.41 EPS. The firm’s revenue was up .2% on a year-over-year basis. As a group, analysts forecast that IDEX will post 5.81 earnings per share for the current fiscal year.

In other news, Director William M. Cook sold 4,080 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $161.93, for a total value of $660,674.40. Following the completion of the sale, the director now owns 22,308 shares in the company, valued at $3,612,334.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Eric D. Ashleman sold 2,922 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $165.75, for a total value of $484,321.50. Following the completion of the sale, the chief operating officer now owns 22,453 shares of the company’s stock, valued at approximately $3,721,584.75. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

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Several institutional investors have recently made changes to their positions in the company. Bbva USA Bancshares Inc. lifted its holdings in shares of IDEX by 1.3% in the second quarter. Bbva USA Bancshares Inc. now owns 5,835 shares of the industrial products company’s stock valued at $1,004,000 after buying an additional 74 shares during the period. Huntington National Bank lifted its holdings in shares of IDEX by 14.0% during the third quarter. Huntington National Bank now owns 694 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 85 shares during the last quarter. Farr Miller & Washington LLC DC lifted its holdings in shares of IDEX by 3.7% during the second quarter. Farr Miller & Washington LLC DC now owns 2,495 shares of the industrial products company’s stock valued at $429,000 after purchasing an additional 90 shares during the last quarter. Johnson Investment Counsel Inc. lifted its holdings in shares of IDEX by 1.6% during the second quarter. Johnson Investment Counsel Inc. now owns 6,359 shares of the industrial products company’s stock valued at $1,094,000 after purchasing an additional 99 shares during the last quarter. Finally, We Are One Seven LLC lifted its holdings in shares of IDEX by 3.1% during the third quarter. We Are One Seven LLC now owns 3,731 shares of the industrial products company’s stock valued at $611,000 after purchasing an additional 111 shares during the last quarter. Institutional investors and hedge funds own 95.25% of the company’s stock.

About IDEX

IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers 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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