Read/Post Comments (0) | Recommended this article (0)
Please login to Zacks.com or register to post a comment.
Zacks' 7 Best Stocks
for June, 2013
FREE Report for Zacks.com
Visitors Only
Visitors Only
They're hand-picked from the list of Zacks Rank #1 Strong Buys. Our experts predict that their prices will jump the soonest.
Today, you can see them free.
- Latest News
- Most Popular
- 3 Dreamy Small-Cap Stocks
- Correction or Summer Range Trade?
- Hitting Home Runs & Grand Slams, Not Loud Outs
- Hedge Your Portfolio with the Equity Bear ETF
- Machinery Industry Stock Outlook - May 2013
- Determining Correct Position Size with Options
- This Week's Growth & Income Stocks
- RTI: Do Stocks Tank When QE Ends?
- 3 Top-Ranked Consumer ETFs to Buy Now
- AWS 5/23: Is the Market Over-Reacting?
- PFP 5/23: Do No Harm
Recent Quotes
| No Recent Quote currently available |
My Portfolio
|
My Portfolio Tracker One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts. Set yours up today. |
More Zacks Resources
Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.
Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.
Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.
My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.
Zacks #1 Stocks on the Move 05/23/2013
| Company Name | Symbol | %Change |
|---|---|---|
| WESTELL TECH | WSTL | 6.67% |
| STEIN MART I | SMRT | 5.38% |
| ALLIANCE FIB | AFOP | 5.21% |
| DAWSON GEOPH | DWSN | 4.33% |
| MARRIOTT VAC | VAC | 3.27% |
Quick Links
Resources
Client Support
Zacks Research is Reported On:
Zacks Investment Research
is an A+ Rated BBB
Accredited Business.
Copyright 2013 Zacks Investment Research
At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1986 it has nearly tripled the S&P 500 with an average gain of +26% per year. These returns cover a period from 1986-2011 and were examined and attested by Baker Tilly, an independent accounting firm.
Visit performance for information about the performance numbers displayed above.
NYSE and AMEX data is at least 20 minutes delayed. NASDAQ data is at least 15 minutes delayed.
This page is temporarily not available. Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext. 9339.
This prompted analysts to revise their estimates higher for both 2012 and 2013, sending the stock to a Zacks #2 Rank (Buy).
In addition, IDEX recently increased its dividend by 18%. It currently yields 1.8%.
Company Description
IDEX Corp manufactures a broad range of fluid handling and industrial products. Sales for the first quarter of 2012 were divided as follows:
Fluid & Metering Technologies: 44%
Health & Science Technologies: 35%
Fire & Safety/Diversified Products: 21%
The company was founded in 1987 and is headquartered in Lake Forest, Illinois. It has a market cap of $3.6 billion.
First Quarter Results
IDEX delivered stellar results for the first quarter of 2012. Earnings per share came in at 66 cents, beating the Zacks Consensus Estimate by 2 cents. It was a 16% increase over the same quarter last year.
Sales rose 15% year-over-year to a record $489.4 million, well ahead of the Zacks Consensus Estimate of $481.0 million. This was driven in large part by acquisitions, but organic growth was a solid 6%.
Organic growth was up in each segment, including 8% in Fluid & Metering and 7% in Fire & Safety/Diversified Products.
Operating income increased 15% year-over-year as the operating margin improved slightly from 18.2% to 18.3% of sales.
Outlook
Following strong first quarter results, management increased its guidance for the remainder of the year. The company now expects EPS of $2.80-$2.85 on mid-single digit organic revenue growth.
This prompted analysts to revise their estimates higher, sending the stock to a Zacks #2 Rank (Buy).
The Zacks Consensus Estimate for 2012 is now $2.82, within guidance, and representing 10% growth over 2011 EPS. The 2013 consensus estimate is currently $3.16, corresponding with 12% growth.
Dividend
IDEX also recently announced an 18% increase in its quarterly dividend. Since 2000, the company has increased its dividend at a compound annual rate of 10%:
It currently yields a solid 1.8%.
Valuation
The valuation picture looks very reasonable for IEX. Shares trade at 14.8x 12-month forward earnings, a discount to its 10-year median of 17.2x.
Its PEG ratio is 1.0 based on a consensus long-term EPS growth rate of 15.0%.
The Bottom Line
With rising estimates, strong growth projections, a solid 1.8% yield, and reasonable valuation, IDEX offers investors attractive upside potential.
Todd Bunton is the Growth & Income Stock Strategist for Zacks Investment Research and Editor of the Income Plus Investor service.
Read the full reports :
Snapshot Report on IEX