IDEX Corporation (IEX) Stock Rating Reaffirmed by Robert W. Baird
IDEX Corporation (NYSE:IEX)‘s stock had its “buy” rating reiterated by equities researchers at Robert W. Baird in a report released on Friday.
Several other research analysts also recently commented on the company. Zacks Investment Research downgraded IDEX Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Cowen and Company increased their price objective on IDEX Corporation from $80.00 to $95.00 and gave the company a “market perform” rating in a research note on Wednesday, July 5th. Eleven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $113.78.
IDEX Corporation (IEX) traded up 0.91% on Friday, hitting $125.77. 266,431 shares of the company were exchanged. The stock has a market capitalization of $9.60 billion, a P/E ratio of 32.24 and a beta of 1.19. IDEX Corporation has a 52-week low of $84.62 and a 52-week high of $125.80. The stock’s 50-day moving average price is $122.46 and its 200-day moving average price is $112.47.
IDEX Corporation (NYSE:IEX) last posted its quarterly earnings data on Monday, October 16th. The industrial products company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.02. IDEX Corporation had a return on equity of 19.07% and a net margin of 13.48%. The firm had revenue of $574.50 million during the quarter, compared to the consensus estimate of $563.23 million. During the same period in the prior year, the company earned $0.92 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts anticipate that IDEX Corporation will post $4.26 earnings per share for the current fiscal year.
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In other IDEX Corporation news, Chairman Andrew K. Silvernail sold 50,000 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total value of $5,750,000.00. Following the completion of the sale, the chairman now directly owns 142,114 shares in the company, valued at approximately $16,343,110. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Daniel J. Salliotte sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $115.34, for a total value of $692,040.00. Following the completion of the sale, the senior vice president now owns 33,762 shares of the company’s stock, valued at $3,894,109.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,000 shares of company stock valued at $6,909,200. 1.00% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oakbrook Investments LLC grew its holdings in shares of IDEX Corporation by 76.2% during the 3rd quarter. Oakbrook Investments LLC now owns 5,725 shares of the industrial products company’s stock worth $695,000 after purchasing an additional 2,475 shares during the period. Winslow Evans & Crocker Inc. purchased a new position in shares of IDEX Corporation during the 3rd quarter worth $304,000. Assenagon Asset Management S.A. purchased a new position in shares of IDEX Corporation during the 3rd quarter worth $516,000. Mutual of America Capital Management LLC grew its holdings in shares of IDEX Corporation by 1.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 62,527 shares of the industrial products company’s stock worth $7,595,000 after purchasing an additional 841 shares during the period. Finally, Shell Asset Management Co. grew its holdings in shares of IDEX Corporation by 148.4% during the 3rd quarter. Shell Asset Management Co. now owns 15,904 shares of the industrial products company’s stock worth $1,151,000 after purchasing an additional 9,502 shares during the period. Institutional investors and hedge funds own 98.49% of the company’s stock.
About IDEX Corporation
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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