TD Cowen analyst Joseph C Giordano has maintained their bullish stance on IEX stock, giving a Buy rating on July 31.
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Joseph C Giordano has given his Buy rating due to a combination of factors that suggest potential for recovery and growth. Despite recent challenges, including management changes and market declines, IDEX has maintained steady gross margins and organic growth. The company’s shares are currently trading at historically low levels compared to the S&P 500, presenting a potential value opportunity.
Giordano believes that the recent management changes could address past communication and expectation management issues, potentially stabilizing the company’s performance. Additionally, the company’s strategic focus on de-emphasizing unpredictable business segments and the potential for market reset offer a promising outlook. The projected price target suggests significant upside potential, aligning with historical valuation multiples, making the stock an attractive buy.
In another report released on July 31, Oppenheimer also maintained a Buy rating on the stock with a $212.00 price target.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IEX in relation to earlier this year.