Innovex International, Inc. (NYSE:INVX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Innovex International, Inc. (NYSE:INVX) have earned an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $32.75.

Several equities analysts have commented on the company. Wall Street Zen downgraded Innovex International from a “buy” rating to a “hold” rating in a research report on Monday, August 17th. Weiss Ratings raised shares of Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Piper Sandler upped their price target on shares of Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Zacks Research downgraded shares of Innovex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Finally, Jefferies Financial Group upgraded shares of Innovex International to a “strong-buy” rating in a report on Friday, June 12th.

Innovex International Price Performance

Innovex International stock opened at $29.90 on Friday. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 33.60 and a beta of 0.83. The firm’s fifty day moving average is $27.15 and its 200 day moving average is $26.81. The company has a quick ratio of 3.32, a current ratio of 5.01 and a debt-to-equity ratio of 0.02. Innovex International has a 52-week low of $16.29 and a 52-week high of $33.71.

Innovex International (NYSE:INVX) last announced its earnings results on Monday, August 3rd. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. The firm had revenue of $244.90 million during the quarter, compared to analysts’ expectations of $241.58 million. Innovex International had a return on equity of 7.12% and a net margin of 6.17%. Sell-side analysts forecast that Innovex International will post 1.44 EPS for the current fiscal year.

Insider Activity at Innovex International

In other news, insider Mark Reddout sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the insider owned 124,312 shares of the company’s stock, valued at approximately $3,729,360. This represents a 7.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Co-Invest Fund L.P. Innovex sold 4,954,467 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $28.71, for a total transaction of $142,242,747.57. Following the transaction, the director owned 311 shares in the company, valued at approximately $8,928.81. This represents a 99.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,975,217 shares of company stock worth $286,393,748 over the last three months. 34.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of INVX. Cetera Investment Advisers increased its position in shares of Innovex International by 7.8% during the first quarter. Cetera Investment Advisers now owns 11,905 shares of the company’s stock worth $290,000 after purchasing an additional 865 shares in the last quarter. Lesa Sroufe & Co grew its stake in Innovex International by 1.0% during the 1st quarter. Lesa Sroufe & Co now owns 122,788 shares of the company’s stock worth $2,995,000 after buying an additional 1,253 shares during the last quarter. Swiss National Bank grew its stake in Innovex International by 1.8% during the 1st quarter. Swiss National Bank now owns 74,900 shares of the company’s stock worth $1,827,000 after buying an additional 1,300 shares during the last quarter. Covestor Ltd grew its stake in 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 buying an additional 1,436 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Innovex International by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock valued at $379,000 after buying an additional 1,467 shares in the last quarter.

Innovex International Company Profile

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.