IDEX (IEX) Given a $155.00 Price Target at Wells Fargo & Co

IDEX (NYSE:IEX) has been assigned a $155.00 target price by Wells Fargo & Co in a report issued on Thursday. The firm presently has a “buy” rating on the industrial products company’s stock. Wells Fargo & Co’s target price suggests a potential upside of 12.03% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Stifel Nicolaus restated a “hold” rating and set a $145.00 target price (up from $132.00) on shares of IDEX in a report on Tuesday, January 16th. Zacks Investment Research cut IDEX from a “buy” rating to a “hold” rating in a report on Monday, December 18th. Robert W. Baird restated a “buy” rating and set a $141.00 target price on shares of IDEX in a report on Friday, December 15th. Seaport Global Securities restated a “neutral” rating on shares of IDEX in a report on Wednesday, October 18th. Finally, Oppenheimer restated a “hold” rating on shares of IDEX in a report on Wednesday, October 18th. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $121.60.

Shares of IDEX (NYSE:IEX) traded up $1.65 during trading on Thursday, reaching $138.35. The company had a trading volume of 111,018 shares, compared to its average volume of 200,066. IDEX has a 12 month low of $88.29 and a 12 month high of $138.57. The stock has a market cap of $10,570.22, a PE ratio of 35.47, a price-to-earnings-growth ratio of 2.26 and a beta of 1.24. The company has a quick ratio of 2.04, a current ratio of 2.84 and a debt-to-equity ratio of 0.48.

Several institutional investors and hedge funds have recently made changes to their positions in IEX. Franklin Resources Inc. purchased a new position in shares of IDEX in the 2nd quarter valued at about $20,941,000. Riverhead Capital Management LLC increased its holdings in shares of IDEX by 52.5% in the second quarter. Riverhead Capital Management LLC now owns 2,897 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 997 shares during the period. Teachers Advisors LLC increased its holdings in shares of IDEX by 5.7% in the second quarter. Teachers Advisors LLC now owns 79,392 shares of the industrial products company’s stock valued at $8,972,000 after purchasing an additional 4,274 shares during the period. TIAA CREF Investment Management LLC increased its holdings in shares of IDEX by 77.8% in the second quarter. TIAA CREF Investment Management LLC now owns 213,542 shares of the industrial products company’s stock valued at $24,132,000 after purchasing an additional 93,431 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of IDEX by 8.8% in the second quarter. BlackRock Inc. now owns 6,993,420 shares of the industrial products company’s stock valued at $790,326,000 after purchasing an additional 568,369 shares during the period. Institutional investors and hedge funds own 96.99% of the company’s stock.

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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).