Royal Bank of Canada Issues Pessimistic Forecast for IDEX (NYSE:IEX) Stock Price

IDEX (NYSE:IEX) had its price target reduced by research analysts at Royal Bank of Canada from $256.00 to $245.00 in a report released on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 25.22% from the company’s previous close.

A number of other research analysts have also issued reports on IEX. Robert W. Baird reduced their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Citigroup reduced their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Stifel Nicolaus increased their price objective on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.00.

IDEX Stock Down 1.8 %

IEX stock opened at $195.65 on Thursday. The firm has a market cap of $14.82 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 2.21 and a beta of 0.97. IDEX has a 1-year low of $189.51 and a 1-year high of $246.36. The firm has a fifty day moving average price of $216.28 and a two-hundred day moving average price of $211.85. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. Research analysts predict that IDEX will post 7.88 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. lifted its position in IDEX by 2.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 168,023 shares of the industrial products company’s stock worth $36,041,000 after purchasing an additional 4,465 shares during the period. Cerity Partners LLC raised its stake in shares of IDEX by 48.3% in the 3rd quarter. Cerity Partners LLC now owns 20,632 shares of the industrial products company’s stock worth $4,426,000 after buying an additional 6,720 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of IDEX by 7.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 250,443 shares of the industrial products company’s stock valued at $53,720,000 after buying an additional 16,504 shares during the period. Covea Finance boosted its stake in IDEX by 70.6% during the fourth quarter. Covea Finance now owns 14,500 shares of the industrial products company’s stock valued at $3,035,000 after buying an additional 6,000 shares in the last quarter. Finally, B.O.S.S. Retirement Advisors LLC grew its holdings in IDEX by 17.3% during the third quarter. B.O.S.S. Retirement Advisors LLC now owns 27,805 shares of the industrial products company’s stock worth $5,964,000 after acquiring an additional 4,096 shares during the period. 97.96% of the stock is currently 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.