IDEX (IEX) PT Raised to $145.00 at SunTrust Banks

IDEX (NYSE:IEX) had its price target lifted by investment analysts at SunTrust Banks to $145.00 in a research note issued on Thursday, The Fly reports. SunTrust Banks’ price objective points to a potential upside of 0.31% from the stock’s previous close. SunTrust Banks also issued estimates for IDEX’s Q1 2018 earnings at $1.22 EPS, Q2 2018 earnings at $1.30 EPS, Q3 2018 earnings at $1.27 EPS, Q4 2018 earnings at $1.33 EPS, Q1 2019 earnings at $1.36 EPS, Q2 2019 earnings at $1.44 EPS, Q3 2019 earnings at $1.41 EPS and Q4 2019 earnings at $1.45 EPS. The analysts noted that the move was a valuation call.

Several other research firms have also commented on IEX. Oppenheimer reissued a “hold” rating on shares of IDEX in a research report on Wednesday, October 18th. BMO Capital Markets increased their price target on shares of IDEX to $143.00 and gave the company a “market perform” rating in a research report on Wednesday. They noted that the move was a valuation call. Stifel Nicolaus reissued a “hold” rating and set a $132.00 price target on shares of IDEX in a research report on Thursday, December 14th. Seaport Global Securities reissued a “neutral” rating on shares of IDEX in a research report on Wednesday, October 18th. Finally, Zacks Investment Research raised shares of IDEX from a “hold” rating to a “buy” rating and set a $139.00 price target for the company in a research report on Thursday, October 5th. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $131.10.

IDEX (NYSE:IEX) traded up $1.07 during mid-day trading on Thursday, hitting $144.55. 293,394 shares of the company’s stock traded hands, compared to its average volume of 288,800. The stock has a market capitalization of $11,036.25, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24. IDEX has a 1-year low of $88.66 and a 1-year high of $148.32. The company has a current ratio of 2.78, a quick ratio of 2.04 and a debt-to-equity ratio of 0.46.

IDEX (NYSE:IEX) last released its quarterly earnings results on Monday, January 29th. The industrial products company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.05. The business had revenue of $585.90 million during the quarter, compared to analyst estimates of $573.47 million. IDEX had a net margin of 14.74% and a return on equity of 18.88%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 earnings per share. sell-side analysts expect that IDEX will post 4.95 EPS for the current year.

Several institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its position in shares of IDEX by 0.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 13,302 shares of the industrial products company’s stock valued at $1,504,000 after purchasing an additional 113 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of IDEX by 1.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 22,835 shares of the industrial products company’s stock valued at $2,581,000 after purchasing an additional 358 shares during the last quarter. IHT Wealth Management LLC raised its position in shares of IDEX by 258.5% in the 2nd quarter. IHT Wealth Management LLC now owns 527 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 380 shares during the last quarter. Advisory Services Network LLC raised its position in shares of IDEX by 16.7% in the 2nd quarter. Advisory Services Network LLC now owns 3,153 shares of the industrial products company’s stock valued at $356,000 after purchasing an additional 451 shares during the last quarter. Finally, Creative Planning increased its holdings in IDEX by 16.9% in the 4th quarter. Creative Planning now owns 3,496 shares of the industrial products company’s stock worth $461,000 after buying an additional 505 shares during the period. 97.18% of the stock is owned by hedge funds and other institutional investors.

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About IDEX

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).