IDEX (NYSE:IEX) Price Target Lowered to $267.00 at Citigroup

IDEX (NYSE:IEX - Get Free Report) had its price target lowered by analysts at Citigroup from $269.00 to $267.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Citigroup's price target suggests a potential upside of 26.90% from the stock's previous close.

IEX has been the subject of several other reports. Royal Bank of Canada increased their target price on IDEX from $248.00 to $258.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Robert W. Baird lowered their price objective on shares of IDEX from $245.00 to $241.00 and set an "outperform" rating for the company in a research report on Thursday, October 31st. Finally, Stifel Nicolaus boosted their price target on shares of IDEX from $244.00 to $256.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, IDEX has an average rating of "Moderate Buy" and a consensus price target of $242.86.

IDEX Trading Up 2.1 %

IEX traded up $4.39 during midday trading on Monday, hitting $210.41. The company's stock had a trading volume of 381,579 shares, compared to its average volume of 492,494. IDEX has a 52-week low of $189.51 and a 52-week high of $246.36. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $221.40 and a two-hundred day moving average price of $210.02. The firm has a market cap of $15.93 billion, a P/E ratio of 32.57, a PEG ratio of 2.36 and a beta of 0.97.

IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.01. The firm had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.12 earnings per share. On average, research analysts anticipate that IDEX will post 7.89 earnings per share for the current year.

Institutional Investors Weigh In On IDEX

Several large investors have recently modified their holdings of IEX. Catalyst Capital Advisors LLC grew its stake in shares of IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company's stock valued at $30,000 after buying an additional 59 shares in the last quarter. Assetmark Inc. acquired a new position in shares of IDEX in the 3rd quarter valued at $39,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in IDEX by 100.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company's stock worth $43,000 after acquiring an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of IDEX by 19.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company's stock valued at $72,000 after purchasing an additional 57 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of IDEX in the 3rd quarter worth about $86,000. 97.96% of the stock is owned by institutional investors.

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.