IDEX Corporation’s (IEX) Hold Rating Reaffirmed at Jefferies Group LLC
IDEX Corporation (NYSE:IEX)‘s stock had its “hold” rating restated by Jefferies Group LLC in a research note issued to investors on Friday.
IEX has been the subject of a number of other research reports. Robert W. Baird restated a “buy” rating and issued a $129.00 target price on shares of IDEX Corporation in a research note on Wednesday. Zacks Investment Research upgraded IDEX Corporation from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a research note on Monday, August 21st. Royal Bank Of Canada restated a “sector perform” rating and issued a $115.00 target price (up previously from $109.00) on shares of IDEX Corporation in a research note on Thursday, July 27th. BidaskClub cut IDEX Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, BMO Capital Markets restated a “hold” rating and issued a $110.00 target price on shares of IDEX Corporation in a research note on Wednesday, September 6th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $111.88.
Shares of IDEX Corporation (NYSE IEX) opened at 123.75 on Friday. IDEX Corporation has a one year low of $82.05 and a one year high of $125.42. The company has a market capitalization of $9.46 billion, a P/E ratio of 33.17 and a beta of 1.19. The firm has a 50-day moving average price of $119.43 and a 200-day moving average price of $109.94.
IDEX Corporation (NYSE:IEX) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.02. The company had revenue of $573.40 million during the quarter, compared to analysts’ expectations of $568.43 million. IDEX Corporation had a return on equity of 19.01% and a net margin of 13.12%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. Equities analysts forecast that IDEX Corporation will post $4.23 earnings per share for the current year.
In related news, SVP Daniel J. Salliotte sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $115.34, for a total transaction of $692,040.00. Following the completion of the transaction, the senior vice president now owns 33,762 shares of the company’s stock, valued at approximately $3,894,109.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jeffrey D. Bucklew sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $116.79, for a total value of $467,160.00. Following the transaction, the senior vice president now directly owns 6,726 shares of the company’s stock, valued at approximately $785,529.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,000 shares of company stock valued at $6,909,200. 1.00% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Catalyst Capital Advisors LLC bought a new position in IDEX Corporation during the 2nd quarter valued at approximately $6,158,000. Prudential Financial Inc. increased its position in IDEX Corporation by 468.9% during the 2nd quarter. Prudential Financial Inc. now owns 368,154 shares of the industrial products company’s stock valued at $41,605,000 after buying an additional 303,440 shares in the last quarter. Wellington Management Group LLP increased its position in IDEX Corporation by 12.7% during the 1st quarter. Wellington Management Group LLP now owns 2,571,528 shares of the industrial products company’s stock valued at $213,127,000 after buying an additional 289,735 shares in the last quarter. Morgan Stanley increased its position in IDEX Corporation by 345.3% during the 4th quarter. Morgan Stanley now owns 69,300 shares of the industrial products company’s stock valued at $5,308,000 after buying an additional 53,739 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in IDEX Corporation by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,826,253 shares of the industrial products company’s stock valued at $264,453,000 after buying an additional 163,006 shares in the last quarter. 98.50% of the stock is owned by institutional investors.
IDEX Corporation 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).
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