IDEX (NYSE:IEX) Hits New 12-Month Low – Time to Sell?

IDEX Co. (NYSE:IEX) hit a new 52-week low on Tuesday . The company traded as low as $182.31 and last traded at $181.66, with a volume of 44018 shares trading hands. The stock had previously closed at $186.23.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on IEX shares. DA Davidson decreased their target price on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada reduced their price target on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Stifel Nicolaus lifted their price objective on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Citigroup reduced their target price on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $241.71.

IDEX Price Performance

The stock has a fifty day simple moving average of $204.73 and a 200-day simple moving average of $211.26. The company has a market capitalization of $13.83 billion, a PE ratio of 27.46, a P/E/G ratio of 1.98 and a beta of 0.99. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, beating the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. Equities analysts anticipate that IDEX Co. will post 8.26 earnings per share for the current year.

Institutional Investors Weigh In On IDEX

A number of institutional investors and hedge funds have recently bought and sold shares of IEX. Banque de Luxembourg S.A. purchased a new stake in shares of IDEX in the 4th quarter valued at about $27,000. Assetmark Inc. purchased a new stake in IDEX in the third quarter valued at approximately $39,000. Quarry LP acquired a new stake in shares of IDEX in the fourth quarter valued at approximately $49,000. Brooklyn Investment Group purchased a new position in shares of IDEX during the third quarter worth approximately $86,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of IDEX by 35.2% in the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock valued at $85,000 after acquiring an additional 106 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Company Profile

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.