Zacks Research Analysts Decrease Earnings Estimates for IDEX Co. (NYSE:IEX)

IDEX Co. (NYSE:IEX) – Research analysts at Zacks Research lowered their FY2024 EPS estimates for shares of IDEX in a report released on Tuesday, April 16th. Zacks Research analyst R. Department now anticipates that the industrial products company will post earnings of $8.37 per share for the year, down from their previous forecast of $8.40. The consensus estimate for IDEX’s current full-year earnings is $8.34 per share. Zacks Research also issued estimates for IDEX’s Q4 2024 earnings at $2.28 EPS, Q2 2025 earnings at $2.51 EPS, Q4 2025 earnings at $2.31 EPS and Q1 2026 earnings at $2.44 EPS.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.05. The company had revenue of $788.90 million for the quarter, compared to analysts’ expectations of $767.96 million. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.01 EPS.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 price objective on shares of IDEX in a research note on Thursday, March 21st. Oppenheimer raised their target price on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a report on Tuesday. Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and raised their target price for the stock from $215.00 to $265.00 in a report on Thursday, February 8th. Finally, Citigroup raised their target price on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, IDEX has a consensus rating of “Moderate Buy” and a consensus price target of $238.78.

IDEX Stock Performance

Shares of IEX opened at $227.04 on Thursday. The firm’s 50 day moving average is $236.41 and its 200-day moving average is $216.02. The stock has a market capitalization of $17.18 billion, a P/E ratio of 28.96, a P/E/G ratio of 2.27 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.89 and a quick ratio of 2.05. IDEX has a 12-month low of $183.76 and a 12-month high of $246.36.

Institutional Trading of IDEX

Institutional investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust boosted its holdings in shares of IDEX by 120.3% during the first quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 77 shares during the period. Planned Solutions Inc. bought a new position in IDEX during the fourth quarter valued at approximately $33,000. Clear Street Markets LLC raised its position in IDEX by 94.7% during the first quarter. Clear Street Markets LLC now owns 148 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 72 shares in the last quarter. Riverview Trust Co bought a new position in IDEX during the first quarter valued at approximately $35,000. Finally, Quarry LP bought a new position in IDEX during the fourth quarter valued at approximately $36,000. 97.96% of the stock is currently owned by institutional investors and hedge funds.

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.