Argus has recently reduced IDEX Corp (IEX) stock to Hold rating, as announced on August 14, 2024, according to Finviz. Earlier, on February 8, 2024, Stifel had raised the stock from a Hold to Buy, setting a price target of $265 for IEX stock. Exane BNP Paribas also initiated Neutral rating with a price target of $200. Additionally, Stifel reduced Hold rating on July 18, 2022, with a target price of $188. Oppenheimer analysts, in their report published on July 14, 2022, also raised Outperform rating and set a price target of $215 for IDEX Corp’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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IDEX Corp (IEX) Stock Trading Recap
On Wednesday, IDEX Corp (IEX) stock saw a modest uptick, ending the day at $218.64 which represents a slight increase of $14.76 or 7.24% from the prior close of $203.88. The stock opened at $209.57 and touched a low of $206.04 during the day, reaching a high of $219.09. The volume of shares traded was 1.35 million exceeding the average volume of 0.53 million.
IEX Stock Performance and Moving Averages
In recent trading, IDEX Corp (IEX) stock price has shown some volatility, fluctuating 6.73% over the last five trades and 2.87% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -1.24%, and it has gained 11.39% in the previous three months. Currently, IEX is trading at 4.65%, 5.92%, and 1.84% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, IEX, a Industrials sector stock, is trading -11.25% below its 52-week high but remains 18.98% above its 52-week low. The Average True Range (ATR) (14 days) of 4.14 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
IDEX Corp’s Profitability and Valuation Ratios
IDEX Corp’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 21.48% and a profit margin of 15.35%, with a gross margin of -1.24%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, IDEX Corp’s market capitalization stands at $16.55 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 33.83, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 25.48. Additionally, the Price-to-Sales Ratio is 5.18, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 4.54, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.21% of IDEX Corp (IEX)’s shares, while financial institutions hold 98.64%.