In a recent trading session, shares of IDEX Corporation (Symbol: IEX) have surpassed the average analyst 12-month target price of $233.20, currently trading at $236.06 per share. When stocks hit their target prices, analysts face two main choices: they can either downgrade their valuation or adjust their target to a higher level. The decision often hinges on the company’s underlying business developments that may be fueling the price increase. If the outlook for the company is bright, it may signal an opportunity to raise the target.
The average target for IDEX Corporation comes from ten analysts within the Zacks coverage universe, presenting a spectrum of viewpoints. Some analysts project lower targets, including one at $200.00, while the highest target stands at $251.00. The standard deviation of these targets is $16.975.
The purpose of examining the average target price is to benefit from the “wisdom of crowds,” which combines insights from various analysts into a consolidated number, rather than relying on a single expert’s perspective. As IEX moves beyond the average target price of $233.20 per share, investors are prompted to reassess the company. Is $233.20 merely a stepping stone toward even higher targets, or has the valuation become too high, warranting a review of their investments? Below is a summary of the current opinions held by analysts covering IDEX Corporation:
| Recent IEX Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 6 | 6 | 6 | 6 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 4 | 4 | 4 | 4 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.82 | 1.82 | 1.82 | 1.82 |
The average rating in the table reflects a scale from 1 to 5, where 1 indicates a Strong Buy and 5 indicates a Strong Sell. This article utilized data provided by Zacks Investment Research via Quandl.com. For the latest Zacks research report on IEX, click here — it’s free.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
