Rosenblatt Securities analyst Scott Graham maintained a Buy rating on IDEX (IEX) today and set a price target of $255.00. The company’s shares closed last Friday at $224.65, close to its 52-week high of $235.76.
According to TipRanks.com, Graham is a 5-star analyst with an average return of 16.3% and a 71.8% success rate. Graham covers the Industrial Goods sector, focusing on stocks such as Altra Industrial Motion, Thermon Group Holdings, and Rockwell Automation.
Currently, the analyst consensus on IDEX is a Strong Buy with an average price target of $242.43, which is a 6.9% upside from current levels. In a report issued on April 20, Wells Fargo also maintained a Buy rating on the stock with a $240.00 price target.
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The company has a one-year high of $235.76 and a one-year low of $141.86. Currently, IDEX has an average volume of 455.6K.
Based on the recent corporate insider activity of 43 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 February 2021, Livingston Satterthwaite, a Director at IEX sold 4,800 shares for a total of $946,800.
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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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