Oppenheimer Releases a Hold Rating on Idex Corp

By Carrie Williams

In a report released today, Jim Giannakouros from Oppenheimer reiterated a Hold rating on Idex Corp (NYSE: IEX). The company’s shares opened today at $94.

According to TipRanks.com, Giannakouros is a 3-star analyst with an average return of 3.7% and a 55.9% success rate. Giannakouros covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Mueller Water Products.

Currently, the analyst consensus on Idex Corp is Hold and the average price target is $93, representing a -1.1% downside.

In a report issued on April 10, RBC Capital also reiterated a Hold rating on the stock with a $99 price target.

Based on Idex Corp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $530 million and quarterly net profit of $57.35 million. In comparison, last year the company earned revenue of $503 million and had a net profit of $68.13 million.

Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. Last month, Jeffrey Bucklew, the SVP – Chief HR Officer of IEX sold 80 shares for a total of $7,504.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

IDEX Corp. engages in the manufacture of industrial pumps and other engineering equipment. It operates through the following segments: Fluid and Metering Technologies; Health and Science Technologies; and Fire and Safety/Diversified Products. The Fluid and Metering Technologies segment designs, produces and distributes positive displacement pumps, flow meters, injectors, and other fluid-handling pump modules and systems and provides flow monitoring and other services for the water and wastewater industries. The Health and Science Technologies segment designs, produces and distributes a wide range 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/Diversified Products segment produces firefighting pumps and controls, rescue tools, lifting bags and other components and systems for the fire and rescue industry, and engineered stainless steel banding and clamping devices used in a variety of industrial and commercial applications. The company was founded on September 24, 1987 and is headquartered in Lake Forest, IL.