Innovex International, Inc. (NYSE:INVX) Receives $25.50 Consensus Target Price from Analysts

Shares of Innovex International, Inc. (NYSE:INVX) have received a consensus rating of “Hold” from the five analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $25.50.

INVX has been the subject of several research reports. Piper Sandler lifted their price target on Innovex International from $20.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Barclays raised their target price on shares of Innovex International from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. Weiss Ratings cut shares of Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 27th. Finally, Zacks Research downgraded shares of Innovex International from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th.

Innovex International Stock Performance

NYSE INVX opened at $24.17 on Friday. The business has a 50 day moving average price of $25.23 and a 200 day moving average price of $21.72. The company has a market capitalization of $1.67 billion, a P/E ratio of 20.14 and a beta of 0.72. Innovex International has a 1-year low of $11.93 and a 1-year high of $29.48. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.91 and a quick ratio of 3.24.

Innovex International (NYSE:INVX) last posted its earnings results on Monday, February 23rd. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.09). The firm had revenue of $273.60 million for the quarter, compared to analysts’ expectations of $240.00 million. Innovex International had a return on equity of 6.55% and a net margin of 8.52%.

Insider Buying and Selling at Innovex International

In other Innovex International news, insider Mark Reddout sold 20,000 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $25.00, for a total transaction of $500,000.00. Following the sale, the insider owned 129,436 shares in the company, valued at approximately $3,235,900. This represents a 13.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amberjack Capital Partners, L. sold 6,612,500 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $24.59, for a total value of $162,601,375.00. Following the transaction, the director directly owned 399 shares of the company’s stock, valued at $9,811.41. The trade was a 99.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 13,290,319 shares of company stock valued at $326,928,137. Company insiders own 43.90% of the company’s stock.

Institutional Trading of Innovex International

Several institutional investors and hedge funds have recently made changes to their positions in INVX. Smartleaf Asset Management LLC increased its position in Innovex International by 31.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock worth $40,000 after purchasing an additional 511 shares in the last quarter. Lesa Sroufe & Co lifted its holdings in Innovex International by 0.5% in the 3rd quarter. Lesa Sroufe & Co now owns 114,980 shares of the company’s stock valued at $2,132,000 after purchasing an additional 561 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Innovex International by 4.4% in the 2nd quarter. Intech Investment Management LLC now owns 23,452 shares of the company’s stock valued at $366,000 after purchasing an additional 978 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Innovex International by 10.9% during the 3rd quarter. Arizona State Retirement System now owns 11,226 shares of the company’s stock worth $208,000 after purchasing an additional 1,104 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Innovex International by 77.7% during the 4th quarter. Covestor Ltd now owns 3,284 shares of the company’s stock worth $72,000 after purchasing an additional 1,436 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.