IDEX (IEX) Upgraded to “Hold” at Zacks Investment Research

IDEX (NYSE:IEX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “IDEX is currently striving to expand its businesses in the emerging markets by focusing on organic growth. IDEX further aims to increase its market exposure and improve sales mix by continually developing new products. With a flexible yet disciplined focus on cost and productivity, IDEX expects to successfully tap newer markets to augment its revenue. IDEX also outperformed the industry in the past three months. However, IDEX has huge recurring R&D expenses, which increase operating costs and reduce price control over products. Also, IDEX is susceptible to various operating risks related to the availability and prices for raw materials as it procures substantial amount of components from suppliers across the globe. With operations across five continents, IDEX’s performance is exposed to the adverse impact of macroeconomic cycles in the United States and international markets.”

Several other equities analysts have also commented on IEX. Stifel Nicolaus reaffirmed a “hold” rating and issued a $145.00 price target (up previously from $132.00) on shares of IDEX in a research note on Tuesday. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $155.00 price target (up previously from $144.00) on shares of IDEX in a research note on Thursday. Robert W. Baird reaffirmed a “buy” rating and issued a $141.00 price target on shares of IDEX in a research note on Friday, December 15th. SunTrust Banks reaffirmed a “hold” rating and issued a $118.00 price target on shares of IDEX in a research note on Tuesday, October 17th. They noted that the move was a valuation call. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of IDEX in a research note on Wednesday, October 18th. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $121.60.

IDEX (IEX) traded up $0.18 during midday trading on Thursday, reaching $136.70. The company’s stock had a trading volume of 208,341 shares, compared to its average volume of 266,308. The firm has a market capitalization of $10,460.00, a price-to-earnings ratio of 35.05, a P/E/G ratio of 2.26 and a beta of 1.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 2.04. IDEX has a one year low of $88.29 and a one year high of $138.57.

IDEX (NYSE:IEX) last released its quarterly earnings data on Monday, October 16th. The industrial products company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.02. The company had revenue of $574.50 million for the quarter, compared to analyst estimates of $563.23 million. IDEX had a return on equity of 19.07% and a net margin of 13.48%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. equities research analysts predict that IDEX will post 4.26 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank acquired a new position in IDEX during the 2nd quarter worth about $106,000. IHT Wealth Management LLC lifted its stake in IDEX by 258.5% during the 2nd quarter. IHT Wealth Management LLC now owns 527 shares of the industrial products company’s stock worth $165,000 after acquiring an additional 380 shares in the last quarter. Stock Yards Bank & Trust Co. acquired a new position in IDEX during the 4th quarter worth about $201,000. Advisor Partners LLC acquired a new position in IDEX during the 3rd quarter worth about $204,000. Finally, Stephens Inc. AR acquired a new position in IDEX during the 3rd quarter worth about $215,000. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

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IDEX 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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