IDEX (NYSE:IEX) Hits New 12-Month Low - Here's Why

IDEX Co. (NYSE:IEX - Get Free Report) reached a new 52-week low on Monday . The stock traded as low as $153.36 and last traded at $154.16, with a volume of 51227 shares trading hands. The stock had previously closed at $162.49.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Royal Bank of Canada cut their price objective on IDEX from $256.00 to $245.00 and set an "outperform" rating for the company in a report on Thursday, February 6th. DA Davidson dropped their price objective on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Finally, Citigroup decreased their price target on shares of IDEX from $269.00 to $267.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $241.71.

IDEX Stock Performance

The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. The business's 50 day moving average is $185.17 and its two-hundred day moving average is $206.47. The company has a market cap of $12.71 billion, a PE ratio of 25.30, a PEG ratio of 1.98 and a beta of 1.05.

IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, topping 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, equities research analysts anticipate that IDEX Co. will post 8.26 EPS for the current year.

Remove Ads

Institutional Trading of IDEX

Several hedge funds have recently bought and sold shares of the stock. Asset Management One Co. Ltd. increased its holdings in shares of IDEX by 4.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company's stock worth $6,386,000 after purchasing an additional 1,209 shares during the last quarter. Assetmark Inc. increased its stake in IDEX by 129.1% in the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company's stock worth $87,000 after acquiring an additional 235 shares during the last quarter. Covea Finance raised its holdings in shares of IDEX by 70.6% during the 4th quarter. Covea Finance now owns 14,500 shares of the industrial products company's stock worth $3,035,000 after acquiring an additional 6,000 shares in the last quarter. Barclays PLC boosted its position in shares of IDEX by 1.2% during the 3rd quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company's stock valued at $252,603,000 after acquiring an additional 14,360 shares during the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of IDEX by 27.0% in the fourth quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company's stock valued at $488,000 after purchasing an additional 495 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.