Idex (IEX) Soars 7.3%: Is Further Upside Left in the Stock?

IDEX Corporation IEX shares rallied 7.3% in the last trading session to close at $173.80. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 12.4% loss over the past four weeks.IDEX’s rally is largely driven by optimism over its strong momentum in the intelligent water business. The Trump administration’s announcement of a temporary halt on reciprocal tariffs for most countries has also supported the stock’s upward movement.This maker of the Jaws of Life device and other engineered products is expected to post quarterly earnings of $1.64 per share in its upcoming report, which represents a year-over-year change of -12.8%. Revenues are expected to be $811.61 million, up 1.4% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Idex, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IEX going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Idex is a member of the Zacks Manufacturing - General Industrial industry. One other stock in the same industry, DNOW (DNOW), finished the last trading session 10.4% higher at $15.66. DNOW has returned -6.2% over the past month.For DNOW, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.19. This represents a change of -9.5% from what the company reported a year ago. DNOW currently has a Zacks Rank of #1 (Strong Buy).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report IDEX Corporation (IEX): Free Stock Analysis Report DNOW Inc. (DNOW): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks