IDEX Corporation (IEX) is an Illinois-based industrial company specializing in the design and manufacture of highly engineered products and systems. Valued at a market cap of $13.6 billion, IDEX operates through a decentralized structure comprising over 50 businesses across more than 20 countries.

IDEX has notably underperformed the broader market as it has plunged 16.7% over the past 52 weeks and 14.2% in 2025. In contrast, the S&P 500 Index ($SPX) has returned 10.2% over the past year and has dropped 1.3% on a YTD basis.

Zooming in further, IDEX has also underperformed the Industrial Select Sector SPDR Fund’s (XLI) 13.7% gains over the past year and 6.9% rise this year.

On May 1, IDEX delivered solid Q1 2025 results, with revenue rising 2% year-over-year to $814.3 million and adjusted EPS standing at $1.75, both beating the Street’s expectations. Despite a 1% decline in organic sales, the company achieved record-high orders of $872 million, driven by strong performance in the Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP) segments. 

IDEX reaffirmed its full-year guidance, projecting EPS of $8.10–$8.45 and organic sales growth of 1–3%, while implementing $20 million in cost containment measures to counter tariff-related pressures. IEX shares popped 3.5% in the next trading session. 

For the current year ending in December, analysts expect IEX to report a 4.1% year-over-year growth in adjusted EPS to $8.21. IDEX has surpassed the Street’s bottom-line estimates in each of the past four quarters, which is admirable.

Among the 11 analysts covering the IEX stock, the consensus rating is a “Moderate Buy.” That’s based on six “Strong Buy,” one “Moderate Buy,” and four “Hold” ratings.

This configuration has been consistent over the past three months.

On May 2, RBC Capital's Deane Dray raised IDEX’s price target from $206 to $208, maintaining an “Outperform” rating. The upgrade follows strong Q1 results, with the company exceeding revenue and profit expectations and achieving record-high orders. This marks the fourth straight quarter of positive organic order growth, underscoring IDEX’s continued momentum.

IEX’s mean price target of $208.10 represents a 15.9% premium to current price levels, while its Street-high target of $225 indicates a 25.3% upside potential.