IDEX’s (IEX) “Buy” Rating Reiterated at Robert W. Baird

Robert W. Baird reiterated their buy rating on shares of IDEX (NYSE:IEX) in a research report sent to investors on Friday morning. Robert W. Baird currently has a $141.00 price objective on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets reiterated a hold rating and set a $110.00 target price on shares of IDEX in a report on Wednesday, September 6th. Royal Bank of Canada raised their price objective on IDEX from $124.00 to $126.00 and gave the company a sector perform rating in a research note on Wednesday, October 18th. Seaport Global Securities restated a neutral rating on shares of IDEX in a research note on Wednesday, October 18th. Stifel Nicolaus restated a hold rating and set a $132.00 price objective on shares of IDEX in a research note on Thursday. Finally, Oppenheimer restated a hold rating on shares of IDEX in a research note on Thursday, September 21st. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the stock. IDEX presently has an average rating of Hold and a consensus target price of $116.44.

Shares of IDEX (NYSE:IEX) opened at $131.20 on Friday. The company has a market capitalization of $10,016.68, a PE ratio of 31.59, a P/E/G ratio of 2.37 and a beta of 1.24. The company has a current ratio of 2.84, a quick ratio of 2.04 and a debt-to-equity ratio of 0.48. IDEX has a twelve month low of $88.29 and a twelve month high of $135.70.

IDEX (NYSE:IEX) last announced its earnings results on Monday, October 16th. The industrial products company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.06 by $0.02. The business had revenue of $574.50 million for the quarter, compared to the consensus estimate of $563.23 million. IDEX had a return on equity of 19.07% and a net margin of 13.48%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. research analysts predict that IDEX will post 4.26 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Monday, January 15th will be paid a dividend of $0.37 per share. The ex-dividend date is Thursday, January 11th. This represents a $1.48 dividend on an annualized basis and a yield of 1.13%. IDEX’s dividend payout ratio (DPR) is presently 37.95%.

A number of hedge funds and other institutional investors have recently modified their holdings of IEX. PNC Financial Services Group Inc. grew 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 worth $1,504,000 after acquiring an additional 113 shares in the last quarter. M&T Bank Corp grew its position in shares of IDEX by 1.1% in the 2nd quarter. M&T Bank Corp now owns 21,623 shares of the industrial products company’s stock worth $2,443,000 after acquiring an additional 236 shares in the last quarter. Penserra Capital Management LLC grew its position in shares of IDEX by 13.0% in the 2nd quarter. Penserra Capital Management LLC now owns 2,340 shares of the industrial products company’s stock worth $264,000 after acquiring an additional 270 shares in the last quarter. Ameritas Investment Partners Inc. grew 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 worth $2,581,000 after acquiring an additional 358 shares in the last quarter. Finally, IHT Wealth Management LLC boosted its position in IDEX by 258.5% during 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 period. Hedge funds and other institutional investors own 97.02% of the company’s stock.

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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).

Analyst Recommendations for IDEX (NYSE:IEX)

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