IDEX (IEX) Receives a Buy from Rosenblatt Securities

By Jason Carr

In a report released yesterday, Scott Graham from Rosenblatt Securities maintained a Buy rating on IDEX (IEXResearch Report), with a price target of $185.00. The company’s shares closed last Monday at $172.14, close to its 52-week high of $176.70.

According to, Graham is a 4-star analyst with an average return of 7.7% and a 62.1% success rate. Graham covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation, AO Smith, and Pentair.

Currently, the analyst consensus on IDEX is a Moderate Buy with an average price target of $181.25.

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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 $98.14 million.

Based on the recent corporate insider activity of 55 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. Most recently, in November 2019, 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.