Barrington Research Adjusts Numbers on IDEX Corp (IEX) After Q2 Miss; Pullback Offers Investors Great Entry Point
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Price: $55.64 -1.52%
Rating Summary:
5 Buy, 8 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
5 Buy, 8 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade IEX Now!
Barrington Research maintains an 'Outperform' on IDEX Corp (NYSE: IEX) price target of $45.00 (from $50.00).
Analyst, Walter S. Liptak, said, "Despite slower order growth and the weaker global environment, we expect IEX to benefit from strategic acquisitions and eventually from improving end markets. The U.S. housing recovery should benefit IEX's paint Dispensing operations. The recent improvement in commodities prices should help stabilize demand for FMT. However, we are lowering our 2012 EPS to $2.67 from our previous estimate of $2.85 and lowering our 2013 EPS to $3.09 from $3.15, to adjust to the guidance and other cost considerations. Our Q3/12 EPS is being lowered to $0.62 from $0.72."
"IEX's shares have already dropped 20% due to macro trends. At this point, we would be buyers of this high quality industrial company on today's pullback."
For an analyst ratings summary and ratings history on IDEX Corp click here. For more ratings news on IDEX Corp click here.
Shares of IDEX Corp closed at $36.79 yesterday, with a 52 week range of $29.29-$45.17.
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Analyst, Walter S. Liptak, said, "Despite slower order growth and the weaker global environment, we expect IEX to benefit from strategic acquisitions and eventually from improving end markets. The U.S. housing recovery should benefit IEX's paint Dispensing operations. The recent improvement in commodities prices should help stabilize demand for FMT. However, we are lowering our 2012 EPS to $2.67 from our previous estimate of $2.85 and lowering our 2013 EPS to $3.09 from $3.15, to adjust to the guidance and other cost considerations. Our Q3/12 EPS is being lowered to $0.62 from $0.72."
"IEX's shares have already dropped 20% due to macro trends. At this point, we would be buyers of this high quality industrial company on today's pullback."
For an analyst ratings summary and ratings history on IDEX Corp click here. For more ratings news on IDEX Corp click here.
Shares of IDEX Corp closed at $36.79 yesterday, with a 52 week range of $29.29-$45.17.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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