IDEX Co. (NYSE:IEX – Get Free Report) saw a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 892,200 shares, a growth of 27.6% from the May 15th total of 699,100 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average daily volume of 399,100 shares, the days-to-cover ratio is currently 2.2 days.
IDEX Trading Up 1.0 %
IEX traded up $2.06 on Monday, reaching $200.29. 311,372 shares of the company traded hands, compared to its average volume of 406,417. IDEX has a one year low of $183.76 and a one year high of $246.36. The firm has a fifty day simple moving average of $219.37 and a two-hundred day simple moving average of $221.54. The company has a market cap of $15.16 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 1.99 and a beta of 0.99. The company has a quick ratio of 2.45, a current ratio of 3.37 and a debt-to-equity ratio of 0.37.
IDEX (NYSE:IEX – Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The company had revenue of $801.00 million during the quarter, compared to analyst estimates of $807.52 million. During the same quarter last year, the business posted $2.09 EPS. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, equities research analysts expect that IDEX will post 8.31 earnings per share for the current year.
IDEX Increases Dividend
Institutional Investors Weigh In On IDEX
Several large investors have recently modified their holdings of IEX. Pathstone Family Office LLC raised its holdings in shares of IDEX by 75.5% in the 3rd quarter. Pathstone Family Office LLC now owns 2,484 shares of the industrial products company’s stock valued at $517,000 after purchasing an additional 1,069 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of IDEX by 4.6% in the 3rd quarter. HighTower Advisors LLC now owns 14,959 shares of the industrial products company’s stock valued at $3,099,000 after purchasing an additional 663 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of IDEX by 13.3% in the 3rd quarter. Deutsche Bank AG now owns 244,610 shares of the industrial products company’s stock valued at $50,884,000 after purchasing an additional 28,661 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of IDEX by 76.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 27,278 shares of the industrial products company’s stock valued at $5,674,000 after purchasing an additional 11,850 shares in the last quarter. Finally, Aviva PLC raised its holdings in shares of IDEX by 17.4% in the 3rd quarter. Aviva PLC now owns 41,573 shares of the industrial products company’s stock valued at $8,648,000 after purchasing an additional 6,169 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on IEX. Oppenheimer lifted their price objective on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Robert W. Baird dropped their price objective on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price target on shares of IDEX in a research note on Thursday, March 21st. StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. Finally, Citigroup lifted their price target on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $250.71.
View Our Latest Report on IDEX
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.
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