Is This the Right Time to Add IDEX Corp (NYSE:IEX) to Your Portfolio?

[EDGAR] IDEX Corp (NYSE:IEX)(TREND ANALYSIS) Presentation slides and a transcript of a conference call discussing IDEX Corporation’s quarterly operating results are attached to this Current Report on Form 8-K as Exhibits 99.1 and 99.2 and are incorporated herein by reference.

The Securities and Exchange Commission encourages companies to disclose forward-looking information so that investors can better understand the future prospects of a company and make informed investment decisions. This Current Report and exhibit may contain these types of statements, which are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and which involve risks, uncertainties and reflect IDEX’s judgment as of the date of this Current Report.

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IDEX Corp (NYSE:IEX) stock is currently trading 4.38% below its 52-week-high, 14.82% above its 52-week-low. The 1-year stock price history is in the range of $66.88 – $80.31. IDEX Corp (IEX) has a price to earnings ratio of 21.84 versus Industrial Goods sector average of 32.96. IEX stock price has underperformed the S&P 500 by 1.9%. The Diversified Machinery company is currently valued at $5.9 billion and its share price closed the last trading session at $76.79. The stock has a 50-day moving average of $73.06 and a 200-day moving average of $75.5.

IDEX Corp (IEX) current short interest stands at 2.22 million shares. It has increased by 19% from the same period of last month. Around 3% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.65 million shares, the number of days required to cover the short positions stand at 3.4 days.

IEX reported last quarter earnings on October 19. The Diversified Machinery company announced earnings per share of $0.89 against a consensus Street estimate of $0.89, matching the average estimate. This corresponds to an increase of $0.03 compared to the same quarter of the previous fiscal year.

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There are currently fifteen analysts that cover IDEX Corp stock. Of those fifteen, five have a Buy rating, ten have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $80.29.

A recent analyst activity consisted of Bernstein who initiated their coverage on the stock with Outperform rating on September 29. Bernstein fixed their price target at $84. This corresponds to a 9.39% upside from the last closing price. On the date of report, the stock closed at $69.99.

Jefferies reiterated their Hold stance on June 12, and increased their price target on IEX stock from $77 to $79. This corresponds to a 2.88% upside from the last closing price. On the date of report, the stock closed at $79.09.

Another research firm was Baird who reiterated their Outperform stance on June 11. Baird increased their price target on IDEX Corp from $77 to $81. This translates to a 5.48% upside from the last closing price. On the date of report, the stock closed at $79.33.

Company Snapshot

IDEX Corporation designs, manufactures, and markets a variety of pump products, dispensing equipment, and other engineered products. The Company’s products include industrial pumps, lubrication systems, banding and clamping devices, and rescue tools. IDEX markets its products to customers in the United States and overseas.

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