IDEX (IEX) Gets a Buy Rating from Rosenblatt Securities

By Ryan Adsit

In a report released yesterday, Scott Graham from Rosenblatt Securities reiterated a Buy rating on IDEX (IEXResearch Report), with a price target of $185.00. The company’s shares closed last Monday at $157.36.

Graham has an average return of 8.8% when recommending IDEX.

According to TipRanks.com, Graham is ranked #640 out of 5715 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for IDEX with a $174.40 average price target.

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Based on IDEX’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $105 million. In comparison, last year the company had a net profit of $106 million.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IEX in relation to earlier this year. Last month, Jeffrey Bucklew, the SVP-CHIEF HR OFFICER of IEX sold 4,680 shares for a total of $758,160.

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IDEX Corp. engages in the provision of engineering solutions. It offers its products under two brands namely BAND-IT that produces stainless steel banding, buckles, and clamping systems; and Hurst Jaws of Life, which serves as a rescue tool.