IDEX (NYSE:IEX) Reaches New 12-Month Low - Should You Sell?

Shares of IDEX Co. (NYSE:IEX - Get Free Report) reached a new 52-week low on Monday . The stock traded as low as $176.39 and last traded at $178.93, with a volume of 21180 shares. The stock had previously closed at $180.91.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Stifel Nicolaus raised their target price on shares of IDEX from $244.00 to $256.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Citigroup lowered their price objective on shares of IDEX from $269.00 to $267.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada cut their target price on IDEX from $256.00 to $245.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. Finally, DA Davidson lowered their price target on IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $241.71.

IDEX Trading Down 3.7 %

The company's 50-day moving average is $193.89 and its 200 day moving average is $208.77. 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 firm has a market cap of $12.28 billion, a PE ratio of 24.42, a P/E/G ratio of 1.98 and a beta of 1.05.

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IDEX (NYSE:IEX - Get Free Report) last released its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. As a group, sell-side analysts predict that IDEX Co. will post 8.26 EPS for the current year.

Institutional Investors Weigh In On IDEX

A number of hedge funds and other institutional investors have recently made changes to their positions in IEX. MassMutual Private Wealth & Trust FSB raised its position in IDEX by 81.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 64 shares in the last quarter. Banque de Luxembourg S.A. acquired a new position in IDEX during the fourth quarter worth $27,000. Quarry LP bought a new position in IDEX during the fourth quarter valued at about $49,000. Versant Capital Management Inc lifted its position in shares of IDEX by 970.7% in the first quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company's stock worth $79,000 after buying an additional 398 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of IDEX by 35.2% during the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company's stock worth $85,000 after acquiring an additional 106 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other 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.