Robert W. Baird Issues Pessimistic Forecast for IDEX (NYSE:IEX) Stock Price

IDEX (NYSE:IEX - Free Report) had its target price cut by Robert W. Baird from $245.00 to $241.00 in a research report released on Thursday, Benzinga reports. They currently have an outperform rating on the industrial products company's stock.

Several other brokerages have also recently commented on IEX. Royal Bank of Canada reduced their price target on shares of IDEX from $250.00 to $236.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. DA Davidson decreased their target price on IDEX from $220.00 to $210.00 and set a "neutral" rating for the company in a research report on Monday, August 5th. Stifel Nicolaus upped their price target on IDEX from $232.00 to $244.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. TD Cowen decreased their price objective on shares of IDEX from $240.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Finally, Oppenheimer dropped their target price on shares of IDEX from $245.00 to $238.00 and set an "outperform" rating on the stock in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $241.14.

IDEX Stock Down 1.9 %

Shares of NYSE IEX traded down $4.10 during midday trading on Thursday, reaching $214.54. 984,611 shares of the company's stock were exchanged, compared to its average volume of 466,281. The stock has a market capitalization of $16.24 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95. IDEX has a 52-week low of $183.76 and a 52-week high of $246.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.52 and a current ratio of 3.41. The business's fifty day moving average price is $206.81 and its two-hundred day moving average price is $207.75.

IDEX (NYSE:IEX - Get Free Report) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.89 by $0.01. The company had revenue of $798.20 million during the quarter, compared to analysts' expectations of $793.05 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The business's revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $2.12 EPS. Analysts forecast that IDEX will post 7.87 EPS for the current year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a $0.69 dividend. The ex-dividend date was Friday, October 11th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.29%. IDEX's dividend payout ratio (DPR) is presently 36.13%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Trust Walden Corp boosted its position in shares of IDEX by 3.3% during the second quarter. Boston Trust Walden Corp now owns 223,892 shares of the industrial products company's stock worth $45,047,000 after buying an additional 7,222 shares during the period. D. E. Shaw & Co. Inc. boosted its position in IDEX by 247.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company's stock worth $39,872,000 after acquiring an additional 141,064 shares during the period. Qsemble Capital Management LP bought a new position in shares of IDEX in the second quarter worth $3,627,000. SG Americas Securities LLC increased its holdings in shares of IDEX by 241.3% during the first quarter. SG Americas Securities LLC now owns 37,561 shares of the industrial products company's stock valued at $9,166,000 after purchasing an additional 26,557 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in IDEX by 90.1% in the first quarter. BNP Paribas Financial Markets now owns 69,984 shares of the industrial products company's stock worth $17,077,000 after purchasing an additional 33,162 shares during the period. 97.96% of the stock is owned by institutional investors and hedge funds.

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.