Innovex International (NYSE:INVX) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Innovex International (NYSE:INVX) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Several other brokerages have also issued reports on INVX. Johnson Rice upgraded Innovex International to a “strong-buy” rating in a report on Friday, May 30th. Barclays reduced their target price on shares of Innovex International from $16.00 to $13.00 and set an “underweight” rating for the company in a research note on Friday, May 9th.

Innovex International Trading Up 3.2%

Shares of NYSE:INVX opened at $15.61 on Friday. The firm has a market capitalization of $1.08 billion, a P/E ratio of 11.07 and a beta of 0.79. Innovex International has a 12-month low of $11.93 and a 12-month high of $19.42. The company has a quick ratio of 2.17, a current ratio of 3.87 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average of $15.08 and a two-hundred day moving average of $15.80.

Innovex International (NYSE:INVX) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). The firm had revenue of $240.42 million for the quarter, compared to analyst estimates of $247.73 million. Innovex International had a net margin of 12.31% and a negative return on equity of 0.73%.

Institutional Trading of Innovex International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE lifted its holdings in Innovex International by 234.0% in the 1st quarter. US Bancorp DE now owns 1,533 shares of the company’s stock worth $28,000 after purchasing an additional 1,074 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Innovex International by 169.7% in the 1st quarter. GAMMA Investing LLC now owns 2,101 shares of the company’s stock worth $38,000 after purchasing an additional 1,322 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Innovex International by 264.9% in the first quarter. Smartleaf Asset Management LLC now owns 3,375 shares of the company’s stock worth $60,000 after buying an additional 2,450 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Innovex International in the fourth quarter worth $88,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Innovex International by 15.6% in the first quarter. PNC Financial Services Group Inc. now owns 5,880 shares of the company’s stock worth $106,000 after buying an additional 794 shares during the last quarter.

About Innovex International

Innovex International, Inc engages in the provision of solutions for both onshore and offshore applications within the oil and gas industry. The company was founded on September 15, 2016 and is headquartered in Humble, TX.