Citigroup Has Lowered Expectations for IDEX (NYSE:IEX) Stock Price

IDEX (NYSE:IEX - Free Report) had its price target decreased by Citigroup from $264.00 to $201.00 in a research report released on Monday,Benzinga reports. Citigroup currently has a buy rating on the industrial products company's stock.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada dropped their price objective on IDEX from $256.00 to $245.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus lowered their target price on shares of IDEX from $256.00 to $192.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, DA Davidson cut their target price on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $223.14.

IDEX Stock Performance

Shares of IEX stock traded down $0.31 during mid-day trading on Monday, reaching $163.77. 863,892 shares of the company's stock traded hands, compared to its average volume of 557,706. IDEX has a 12 month low of $153.36 and a 12 month high of $238.22. The firm has a 50 day moving average price of $182.08 and a two-hundred day moving average price of $204.86. The firm has a market capitalization of $12.37 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53.

IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. On average, research analysts forecast that IDEX will post 8.26 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IEX. MassMutual Private Wealth & Trust FSB increased its stake in IDEX by 81.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock worth $26,000 after purchasing an additional 64 shares during the period. Banque de Luxembourg S.A. bought a new position in shares of IDEX in the fourth quarter worth about $27,000. UMB Bank n.a. increased its stake in IDEX by 63.5% in the 1st quarter. UMB Bank n.a. now owns 224 shares of the industrial products company's stock worth $41,000 after buying an additional 87 shares during the period. Quarry LP purchased a new stake in IDEX in the 4th quarter valued at about $49,000. Finally, Versant Capital Management Inc grew its stake in IDEX by 970.7% in the 1st quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company's stock worth $79,000 after acquiring an additional 398 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company's stock.

About IDEX

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.