Gabelli Maintains Hold on IDEX

Gabelli is out with its report today on IDEX IEX, maintaining Hold. In its report, Gabelli writes, "4Q11 EPS guidance of $0.60-$0.63 p.s. were slightly less than expected on a lower rate of 30%. However, the full year EPS guidance of $2.51-$2.54 p.s. were better than expected due to the stronger 3Q11 results. Trading at 13x our 2012 EPS estimate of $2.75 p.s., we maintain our hold rating." Shares of IDEX closed Wednesday at $34.80.