Robert W. Baird Trims IDEX (NYSE:IEX) Target Price to $256.00

IDEX (NYSE:IEX) had its price objective dropped by stock analysts at Robert W. Baird from $260.00 to $256.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s target price would suggest a potential upside of 13.96% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 target price on shares of IDEX in a report on Thursday, March 21st. Citigroup boosted their target price on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a report on Monday, April 8th. Oppenheimer boosted their target price on shares of IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Finally, Stifel Nicolaus raised shares of IDEX from a “hold” rating to a “buy” rating and boosted their target price for the company from $215.00 to $265.00 in a report on Thursday, February 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and a consensus price target of $241.67.

IDEX Price Performance

Shares of NYSE IEX opened at $224.64 on Thursday. IDEX has a twelve month low of $183.76 and a twelve month high of $246.36. The stock’s 50 day moving average price is $236.58 and its 200-day moving average price is $216.55. The company has a market capitalization of $17.00 billion, a PE ratio of 29.56, a PEG ratio of 2.32 and a beta of 0.97. The company has a quick ratio of 2.05, a current ratio of 2.89 and a debt-to-equity ratio of 0.37.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.76 by $0.12. IDEX had a return on equity of 17.88% and a net margin of 17.89%. The business had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. During the same quarter in the prior year, the business earned $2.09 earnings per share. IDEX’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, equities analysts anticipate that IDEX will post 8.34 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Riverview Trust Co bought a new position in shares of IDEX during the first quarter valued at about $35,000. Planned Solutions Inc. bought a new position in shares of IDEX during the fourth quarter valued at about $33,000. Quarry LP bought a new position in shares of IDEX during the fourth quarter valued at about $36,000. EdgeRock Capital LLC bought a new position in shares of IDEX during the fourth quarter valued at about $48,000. Finally, VisionPoint Advisory Group LLC bought a new stake in shares of IDEX in the fourth quarter worth about $50,000. 97.96% of the stock is owned by institutional investors.

About IDEX

IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.