IDEX (NYSE:IEX) Given New $210.00 Price Target at DA Davidson

IDEX (NYSE:IEX) had its target price cut by DA Davidson from $220.00 to $210.00 in a research note published on Monday, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other brokerages also recently issued reports on IEX. Oppenheimer decreased their price target on shares of IDEX from $245.00 to $238.00 and set an outperform rating for the company in a research note on Monday. Robert W. Baird reduced their price objective on shares of IDEX from $256.00 to $241.00 and set an outperform rating for the company in a research report on Friday. Stifel Nicolaus cut their target price on shares of IDEX from $265.00 to $236.00 and set a buy rating on the stock in a report on Thursday, July 18th. Citigroup lifted their target price on shares of IDEX from $254.00 to $277.00 and gave the company a buy rating in a report on Monday, April 8th. Finally, Royal Bank of Canada dropped their price objective on shares of IDEX from $250.00 to $236.00 and set an outperform rating on the stock in a research note on Friday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, IDEX presently has a consensus rating of Moderate Buy and a consensus target price of $236.00.

IDEX Stock Performance

NYSE IEX traded down $0.09 during mid-day trading on Monday, reaching $192.12. 638,146 shares of the stock were exchanged, compared to its average volume of 437,812. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.45 and a current ratio of 3.41. The company has a market capitalization of $14.54 billion, a P/E ratio of 25.29, a P/E/G ratio of 2.08 and a beta of 0.95. IDEX has a 1 year low of $183.76 and a 1 year high of $246.36. The business’s 50 day moving average is $202.42 and its 200-day moving average is $219.38.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The business had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 million. During the same period last year, the business earned $2.18 earnings per share. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, equities research analysts forecast that IDEX will post 7.85 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were issued a $0.69 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a yield of 1.44%. IDEX’s dividend payout ratio (DPR) is 36.32%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IEX. Riverview Trust Co purchased a new stake in shares of IDEX during the first quarter valued at approximately $35,000. Quarry LP acquired a new stake in shares of IDEX during the fourth quarter worth approximately $36,000. EdgeRock Capital LLC acquired a new stake in shares of IDEX during the second quarter worth approximately $41,000. Whittier Trust Co. grew its position in shares of IDEX by 38.4% during the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after buying an additional 58 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in IDEX by 31.0% in the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 57 shares during the period. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

About IDEX

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.