IDEX (NYSE:IEX) Hits New 1-Year Low – Here’s What Happened

IDEX Co. (NYSE:IEX) shares reached a new 52-week low during trading on Monday . The stock traded as low as $153.36 and last traded at $154.16, with a volume of 51227 shares traded. The stock had previously closed at $162.49.

Analysts Set New Price Targets

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

IDEX Trading Down 0.6 %

The business’s 50-day moving average is $192.73 and its two-hundred day moving average is $208.54. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $12.21 billion, a PE ratio of 24.30, a PEG ratio of 1.98 and a beta of 1.05.

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

Institutional Investors Weigh In On IDEX

Several hedge funds have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB grew its position in IDEX by 81.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company’s stock valued at $26,000 after buying an additional 64 shares during the last quarter. Banque de Luxembourg S.A. acquired a new stake in shares of IDEX in the 4th quarter valued at approximately $27,000. Quarry LP acquired a new position in IDEX during the fourth quarter worth $49,000. Versant Capital Management Inc lifted its holdings in IDEX by 970.7% in the first quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company’s stock valued at $79,000 after acquiring an additional 398 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of IDEX by 35.2% during the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 106 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

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.