Shares of IDEX Co. (NYSE:IEX) reached a new 52-week low during trading on Monday after Wells Fargo & Co lowered their price target on the stock from $210.00 to $165.00. Wells Fargo & Co currently has an overweight rating on the stock. IDEX traded as low as $116.67 and last traded at $119.91, with a volume of 7769 shares traded. The stock had previously closed at $130.85.
Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of IDEX from a “hold” rating to a “sell” rating and set a $184.00 price objective on the stock. in a research report on Wednesday, February 19th. Janney Montgomery Scott raised shares of IDEX from a “sell” rating to a “hold” rating and set a $147.00 price objective on the stock in a research report on Friday. Rosenblatt Securities reaffirmed a “buy” rating and set a $185.00 price objective on shares of IDEX in a research report on Wednesday, January 29th. Stifel Nicolaus raised shares of IDEX from a “hold” rating to a “buy” rating and cut their price objective for the company from $164.00 to $159.00 in a research report on Monday. Finally, Royal Bank of Canada cut their price objective on shares of IDEX from $180.00 to $174.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. IDEX currently has an average rating of “Hold” and a consensus price target of $171.89.
Institutional investors and hedge funds have recently modified their holdings of the stock. Allred Capital Management LLC bought a new position in IDEX during the fourth quarter valued at approximately $31,000. Orion Portfolio Solutions LLC bought a new position in shares of IDEX in the fourth quarter valued at approximately $34,000. Global Retirement Partners LLC bought a new position in shares of IDEX in the third quarter valued at approximately $42,000. Citizens Financial Group Inc RI bought a new position in shares of IDEX in the fourth quarter valued at approximately $54,000. Finally, FIL Ltd bought a new position in shares of IDEX in the fourth quarter valued at approximately $54,000. 97.34% of the stock is currently owned by hedge funds and other institutional investors.
The company has a market cap of $9.38 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 2.16 and a beta of 1.21. The company has a quick ratio of 2.70, a current ratio of 3.52 and a debt-to-equity ratio of 0.38. The stock’s 50-day moving average price is $159.54 and its 200 day moving average price is $163.65.
IDEX (NYSE:IEX) last released its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $1.33 EPS for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.02). IDEX had a net margin of 17.06% and a return on equity of 20.68%. The firm had revenue of $606.00 million during the quarter, compared to the consensus estimate of $614.66 million. During the same period in the prior year, the business earned $1.31 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. Analysts expect that IDEX Co. will post 5.71 earnings per share for the current fiscal year.
About IDEX (NYSE:IEX)
IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.