Stifel Nicolaus Lowers IDEX (NYSE:IEX) Price Target to $236.00

IDEX (NYSE:IEX) had its target price cut by Stifel Nicolaus from $265.00 to $236.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other research analysts also recently issued reports about the stock. Oppenheimer lifted their target price on shares of IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a research note on Thursday, April 18th. Citigroup lifted their target price on shares of IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research note on Monday, April 8th. Royal Bank of Canada reissued an outperform rating and set a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. StockNews.com downgraded shares of IDEX from a buy rating to a hold rating in a research report on Thursday, July 11th. Finally, Robert W. Baird reduced their price objective on shares of IDEX from $260.00 to $256.00 and set an outperform rating on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, IDEX presently has a consensus rating of Moderate Buy and a consensus target price of $246.57.

IDEX Trading Down 1.6 %

Shares of IEX opened at $202.97 on Thursday. The firm has a market cap of $15.36 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 2.04 and a beta of 0.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. IDEX has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The firm has a 50 day moving average price of $206.36 and a 200-day moving average price of $219.86.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The company had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. During the same period in the previous year, the firm earned $2.09 earnings per share. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, equities research analysts forecast that IDEX will post 8.27 earnings per share for the current year.

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, July 12th. IDEX’s dividend payout ratio is presently 36.32%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IEX. Norges Bank bought a new position in shares of IDEX in the 4th quarter worth about $237,425,000. Alecta Tjanstepension Omsesidigt increased its stake in shares of IDEX by 420.8% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock worth $169,600,000 after acquiring an additional 631,172 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of IDEX by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock worth $1,943,609,000 after acquiring an additional 555,250 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of IDEX by 4,080.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 313,725 shares of the industrial products company’s stock worth $68,113,000 after acquiring an additional 306,221 shares in the last quarter. Finally, Maren Capital LLC bought a new position in shares of IDEX in the 4th quarter worth about $49,789,000. 97.96% of the stock is currently 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.