In a report issued on March 14, Deane Dray from RBC Capital maintained a Buy rating on IDEX (IEX – Research Report), with a price target of $234.00. The company’s shares closed last Tuesday at $192.68.
According to TipRanks.com, Dray is a 5-star analyst with an average return of 9.7% and a 51.5% success rate. Dray covers the Industrial Goods sector, focusing on stocks such as Atkore International Group, Emerson Electric Company, and Honeywell International.
Currently, the analyst consensus on IDEX is a Moderate Buy with an average price target of $244.63, which is a 28.6% upside from current levels. In a report issued on March 9, Cowen & Co. also upgraded the stock to Buy.
The company has a one-year high of $240.33 and a one-year low of $181.66. Currently, IDEX has an average volume of 430.2K.
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IDEX Corp. engages in the provision of engineering solutions. It operates through the following segments: Fluid and Metering Technologies; Health and Science Technologies and Fire and Safety or Diversified Products. The Fluid and Metering Technologies segment involves in the design, production, and distribution of displacement pumps, valves, flow meters, injectors, and fluid-handling pump modules and systems. The Health and Science Technologies segment includes design, production, and distribution of precision fluidics, rotary lobe pumps, centrifugal and positive displacement pumps, roll compaction, and drying systems used in beverage, food processing, pharmaceutical, and cosmetics, pneumatic components, and sealing solutions. The Fire and Safety or Diversified Products segment consist of production of firefighting pumps and controls, apparatus valves, monitors, nozzles, rescue tools, and lifting bags for the fire and rescue industry. The company was founded on September 24, 1987 and is headquartered in Lake Forest, IL.
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