Stock of the Day: Is Buying 52-Week Stock Like IDEX Corporation a Winning Strategy?

Stock of the Day: Is Buying 52 Week Stock Like IDEX Corporation a Winning Strategy?

The stock of IDEX Corporation (NYSE:IEX) hit a new 52-week high and has $99.11 target or 4.00% above today’s $95.30 share price. The 7 months bullish chart indicates low risk for the $7.28B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $99.11 price target is reached, the company will be worth $291.20 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 276,844 shares traded hands. IDEX Corporation (NYSE:IEX) has risen 13.63% since April 28, 2016 and is uptrending. It has outperformed by 7.71% the S&P500.

Analysts await IDEX Corporation (NYSE:IEX) to report earnings on January, 25. They expect $0.93 EPS, down 1.06% or $0.01 from last year’s $0.94 per share. IEX’s profit will be $71.04 million for 25.62 P/E if the $0.93 EPS becomes a reality. After $0.92 actual EPS reported by IDEX Corporation for the previous quarter, Wall Street now forecasts 1.09% EPS growth.

IDEX Corporation (NYSE:IEX) Ratings Coverage

Out of 8 analysts covering IDEX Corporation (NYSE:IEX), 2 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 25% are positive. IDEX Corporation has been the topic of 12 analyst reports since September 29, 2015 according to StockzIntelligence Inc. The rating was maintained by Stifel Nicolaus on Wednesday, October 19 with “Hold”. Janney Capital upgraded IDEX Corporation (NYSE:IEX) on Tuesday, July 19 to “Buy” rating. Bernstein downgraded the stock to “Market Perform” rating in Monday, April 4 report. The firm has “Neutral” rating by SunTrust given on Tuesday, November 3. The firm has “Outperform” rating by Bernstein given on Tuesday, September 29. Janney Capital initiated IDEX Corporation (NYSE:IEX) on Tuesday, June 21 with “Neutral” rating. The rating was initiated by BMO Capital Markets on Tuesday, April 5 with “Market Perform”. The stock of IDEX Corporation (NYSE:IEX) has “Sector Weight” rating given on Monday, May 23 by KeyBanc Capital Markets. The firm has “Outperform” rating given on Friday, January 29 by RBC Capital Markets. The firm earned “Neutral” rating on Tuesday, November 3 by Suntrust Robinson.

According to Zacks Investment Research, “IDEX CORP. designs, manufactures and markets a broad range of fluid handling and industrial products serving a diverse customer base in the United States and, internationally.”

Insitutional Activity: The institutional sentiment decreased to 0.66 in 2016 Q2. Its down 0.41, from 1.07 in 2016Q1. The ratio dived, as 16 funds sold all IDEX Corporation shares owned while 104 reduced positions. 30 funds bought stakes while 98 increased positions. They now own 73.51 million shares or 1.44% less from 74.59 million shares in 2016Q1.
Jpmorgan Chase has 0.05% invested in the company for 2.66 million shares. State Of Wisconsin Board holds 0.03% or 92,896 shares in its portfolio. Susquehanna Gp Limited Liability Partnership has 62,100 shares for 0% of their US portfolio. Gateway Investment Advisers Ltd Liability last reported 2,805 shares in the company. Moreover, Prentiss Smith And Communication Inc has 0.01% invested in IDEX Corporation (NYSE:IEX) for 170 shares. Proshare Lc, a Maryland-based fund reported 6,759 shares. Lord Abbett Communication Ltd Llc reported 90,176 shares or 0.02% of all its holdings. Johnson Counsel holds 0.01% of its portfolio in IDEX Corporation (NYSE:IEX) for 4,160 shares. Retirement System Of Alabama accumulated 0.16% or 333,417 shares. Mutual Of America Llc holds 0.1% or 55,865 shares in its portfolio. Southernsun Asset Management Ltd Co, a Tennessee-based fund reported 1.84M shares. Moreover, Tiaa Cref Inv Mngmt Ltd Liability Co has 0.01% invested in IDEX Corporation (NYSE:IEX) for 209,043 shares. Morgan Stanley has invested 0.01% of its portfolio in IDEX Corporation (NYSE:IEX). Moreover, Invesco Limited has 0.02% invested in IDEX Corporation (NYSE:IEX) for 611,277 shares. Bbva Compass Savings Bank Inc accumulated 8,544 shares or 0.05% of the stock.

Insider Transactions: Since August 1, 2016, the stock had 0 insider buys, and 4 sales for $1.89 million net activity. Another trade for 3,250 shares valued at $302,250 was sold by BUCKLEW JEFFREY D. Another trade for 4,830 shares valued at $434,697 was sold by MILZCIK GREGORY F. ASHLEMAN ERIC D had sold 6,000 shares worth $556,996. Silvernail Andrew K sold $600,545 worth of stock.

More notable recent IDEX Corporation (NYSE:IEX) news were published by: Businesswire.com which released: “IDEX Corporation to Acquire Akron Brass” on February 05, 2016, also Seekingalpha.com with their article: “IDEX Corporation: Pumping Out Consistent Results At A Premium Price” published on August 24, 2016, Businesswire.com published: “IDEX Corporation to Webcast Third Quarter 2016 Earnings Call” on September 19, 2016. More interesting news about IDEX Corporation (NYSE:IEX) were released by: Businesswire.com and their article: “IDEX Corporation Acquires CIDRA Precision Services” published on July 01, 2015 as well as Businesswire.com‘s news article titled: “IDEX Corporation Hires Denise Cade as General Counsel” with publication date: October 26, 2015.

IEX Company Profile

IDEX Corporation (IDEX), incorporated on September 24, 1987, is an applied solutions business that sells pumps, flow meters and other fluidics systems and components and engineered products. The Company’s products include industrial pumps, compressors, flow meters, injectors and valves, and related controls for use in process applications; precision fluidics solutions, including pumps, valves, degassing equipment, corrective tubing, fittings, complex manifolds, precision photonic solutions, optical filters, and specialty medical equipment and devices used in life science applications; precision-engineered equipment for dispensing, metering and mixing paints; refinishing equipment, and engineered products for industrial and commercial markets, including fire and rescue, transportation equipment, gas and oil, electronics and communications. The Firm operates in three divisions: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP). FMT segment designs, produces and distributes positive displacement pumps, flow meters, injectors, and other fluid-handling pump modules and systems. HST segment designs, produces and distributes precision fluidics, rotary lobe pumps, and centrifugal and positive displacement pumps. FSDP segment produces firefighting pumps and controls, rescue tools, lifting bags, and other components and systems.

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