IDEX Corp. Stock Rating Reaffirmed by Zacks (IEX)
IDEX Corp. (NYSE:IEX)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Friday, Analyst Ratings Net reports. They currently have a $78.00 target price on the stock. Zacks‘s price objective would indicate a potential upside of 4.54% from the stock’s previous close.
Zacks’ analyst wrote, “IDEX reported strong first quarter 2014 results with earnings exceeding the Zacks Consensus Estimate by $0.07. IDEX is one of the leading players in most of its market categories. The company is currently striving to expand its businesses in the emerging markets by focusing on organic growth. IDEX has historically returned significant capital to shareholders through share repurchases and dividends. The company has also increased its quarterly dividend by 21.7% year over year to $0.28 per share for first quarter 2014. However, operating risks regarding high R&D costs for technology-driven products and intense competitive pressure could weigh on the margins moving forward. Nevertheless, we maintain our Neutral recommendation on the stock. “
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of IDEX Corp. from $78.00 to $79.00 in a research note on Thursday, April 24th. Analysts at Robert W. Baird raised their price target on shares of IDEX Corp. from $81.00 to $83.00 in a research note on Friday, April 11th. They now have an “outperform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $74.14.
IDEX Corp. (NYSE:IEX) traded up 0.03% on Friday, hitting $74.63. The stock had a trading volume of 357,367 shares. IDEX Corp. has a one year low of $50.94 and a one year high of $79.27. The stock’s 50-day moving average is $72.69 and its 200-day moving average is $71.80. The company has a market cap of $6.037 billion and a P/E ratio of 24.15.
IDEX Corp. (NYSE:IEX) last announced its earnings results on Tuesday, April 22nd. The company reported $0.91 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.84 by $0.07. The company had revenue of $544.00 million for the quarter, compared to the consensus estimate of $527.21 million. During the same quarter last year, the company posted $0.74 earnings per share. IDEX Corp.’s revenue was up 10.0% compared to the same quarter last year. On average, analysts predict that IDEX Corp. will post $3.44 earnings per share for the current fiscal year.
IDEX Corporation (NYSE:IEX) is an applied solutions business that sells an array of pumps, flow meters and other fluidics systems and components and engineered products to customers in a variety of markets worldwide.
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