Idex Corp (IEX) Receives a Hold from Oppenheimer


Oppenheimer analyst Bryan Blair maintained a Hold rating on Idex Corp (IEX) yesterday. The company’s shares closed yesterday at $137.86.

Blair noted:

“IEX reported adj. 4Q18 EPS of $1.31 vs. our/consensus $1.27, with essentially in- line operations aided by a favorable tax rate. The quarter was highlighted by +5% organic sales growth, +MSD day-rate order progression (reported +2% core orders impacted by timing), and strong margin expansion in FMT and HST. Given generally solid demand trends (bolstered by ongoing share gains) and operating momentum, management guided 2019 core sales growth of +4-5%, OM expansion of +10-50bps, and EPS of $5.60-5.80 (+4-7% despite ~3% headwind from FX). While we believe IEX likely achieves its +MSD sales target and executes to the high end of initial EPS guidance (strategic M&A potentially adding to solid organic trends), we believe this setup is fairly reflected in valuation and stay patient on shares.”

According to TipRanks.com, Blair is a 1-star analyst with an average return of -3.3% and a 40.7% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Carlisle Companies Incorporated, Watts Water Technologies, and Mueller Water Products.

Idex Corp has an analyst consensus of Moderate Buy, with a price target consensus of $142.33, a 3.2% upside from current levels. In a report issued on January 30, Boenning & Scattergood also maintained a Hold rating on the stock.

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Based on Idex Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $98.14 million. In comparison, last year the company had a net profit of $93.75 million.

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IDEX Corp. engages in the provision of engineering solutions. It offers products that are mission-critical components. Its brands includes BAND-IT, that produces stainless steel banding, buckles, and clamping systems; and Hurst Jaws of Life, which serves as a rescue tool.

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