UPDATE: Loop Capital Starts IDEX Corp (IEX) at Hold

November 22, 2021 4:40 PM EST
Get Alerts IEX Hot Sheet
Price: $232.74 -0.72%

Rating Summary:
    12 Buy, 16 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 11 | New: 61
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(Updated - November 22, 2021 4:42 PM EST)

Loop Capital analyst Scott Graham initiates coverage on IDEX Corp (NYSE: IEX) with a Hold rating and a price target of $250.00.

The analyst comments "We are initiating coverage of IEX with a Hold rating and $250 one-year price target. IEX is one of the highest-quality companies in the industrial space. It has a strong long-term earnings track record and above-peer margins. It operates a unique model to grow sales and margins and consistently executes well. Its portfolio is laden with market-leading advanced technology businesses. But we stop short of recommending the stock as we estimate ~25% of sales are derived from markets which are weak, and we expect them to remain pressured well into 2022. We believe this limits upside to our estimates. The company is also struggling with supply chain shortages in one segment, which is contributing to the above sales weakness. Even applying (deserved) premium multiples to our forecasts, we don’t see enough upside to recommend."

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 $234.42 yesterday.

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