Stifel Nicolaus Boosts IDEX Corp. (IEX) Price Target to $89.00
IDEX Corp. (NYSE:IEX) had its price objective increased by investment analysts at Stifel Nicolaus from $88.00 to $89.00 in a report issued on Wednesday. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 2.55% from the company’s current price.
A number of other equities analysts have also recently weighed in on IEX. Jefferies Group restated a “hold” rating on shares of IDEX Corp. in a research report on Tuesday, July 19th. Janney Montgomery Scott upgraded shares of IDEX Corp. from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $87.00 to $96.00 in a research report on Tuesday, July 19th. Zacks Investment Research upgraded shares of IDEX Corp. from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Thursday, July 14th. Sanford C. Bernstein restated a “market perform” rating on shares of IDEX Corp. in a research report on Monday, June 27th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of IDEX Corp. in a research report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. IDEX Corp. presently has an average rating of “Hold” and a consensus price target of $86.25.
Shares of IDEX Corp. (NYSE:IEX) opened at 86.79 on Wednesday. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 23.01 and a beta of 1.16. The stock has a 50 day moving average of $91.31 and a 200 day moving average of $86.98. IDEX Corp. has a 12-month low of $67.20 and a 12-month high of $95.33.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/19/stifel-nicolaus-boosts-idex-corp-iex-price-target-to-89-00.html
IDEX Corp. (NYSE:IEX) last posted its quarterly earnings data on Monday, October 17th. The company reported $0.92 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.92. The company earned $530.40 million during the quarter, compared to analysts’ expectations of $536.29 million. IDEX Corp. had a net margin of 13.52% and a return on equity of 19.40%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. Equities research analysts predict that IDEX Corp. will post $3.74 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Monday, October 17th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Thursday, October 13th. IDEX Corp.’s dividend payout ratio is presently 37.06%.
In other IDEX Corp. news, Chairman Andrew K. Silvernail sold 6,575 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $91.34, for a total value of $600,560.50. Following the transaction, the chairman now directly owns 88,418 shares of the company’s stock, valued at approximately $8,076,100.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gregory F. Milzcik sold 4,830 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $90.00, for a total value of $434,700.00. Following the completion of the transaction, the director now directly owns 5,375 shares in the company, valued at $483,750. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in IEX. TIAA CREF Investment Management LLC raised its position in shares of IDEX Corp. by 11.8% in the first quarter. TIAA CREF Investment Management LLC now owns 180,402 shares of the company’s stock worth $14,952,000 after buying an additional 19,041 shares during the last quarter. Teachers Advisors Inc. raised its position in shares of IDEX Corp. by 5.4% in the first quarter. Teachers Advisors Inc. now owns 179,197 shares of the company’s stock worth $14,852,000 after buying an additional 9,200 shares during the last quarter. BlackRock Inc. raised its stake in IDEX Corp. by 12.1% in the first quarter. BlackRock Inc. now owns 85,863 shares of the company’s stock valued at $7,117,000 after buying an additional 9,263 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in IDEX Corp. by 8.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,373,177 shares of the company’s stock valued at $196,689,000 after buying an additional 179,710 shares in the last quarter. Finally, BlackRock Japan Co. Ltd purchased a new stake in IDEX Corp. during the first quarter valued at about $217,000. 97.49% of the stock is currently owned by institutional investors.
IDEX Corp. Company Profile
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP).
Receive News & Ratings for IDEX Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX Corp. and related companies with MarketBeat.com's FREE daily email newsletter.