Innovex International (NYSE:INVX) Shares Up 5.2% – Still a Buy?

Innovex International, Inc. (NYSE:INVX) shares shot up 5.2% during mid-day trading on Friday . The stock traded as high as $18.60 and last traded at $18.60. 25,309 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 424,666 shares. The stock had previously closed at $17.68.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on INVX shares. Barclays boosted their price target on shares of Innovex International from $15.00 to $16.00 and gave the stock an “underweight” rating in a research note on Wednesday. Pickering Energy Partners upgraded shares of Innovex International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th.

Innovex International Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.87 and a quick ratio of 2.17. The firm has a market cap of $1.29 billion, a P/E ratio of 13.23 and a beta of 0.83. The stock has a 50 day moving average price of $16.42.

Innovex International (NYSE:INVX) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.21. The company had revenue of $250.69 million for the quarter. Innovex International had a net margin of 12.31% and a negative return on equity of 0.73%.

Insider Buying and Selling

In other news, CFO Kendal Reed bought 3,765 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $13.28 per share, for a total transaction of $49,999.20. Following the completion of the purchase, the chief financial officer now owns 186,232 shares of the company’s stock, valued at approximately $2,473,160.96. This represents a 2.06 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.

Institutional Trading of Innovex International

Large investors have recently made changes to their positions in the company. Barclays PLC purchased a new stake in shares of Innovex International during the third quarter worth approximately $874,000. JPMorgan Chase & Co. acquired a new position in Innovex International in the third quarter valued at approximately $2,261,000. Principal Financial Group Inc. acquired a new position in Innovex International in the third quarter valued at approximately $2,383,000. Moody National Bank Trust Division acquired a new position in Innovex International in the fourth quarter valued at approximately $234,000. Finally, Sanctuary Advisors LLC boosted its holdings in Innovex International by 20.5% in the fourth quarter. Sanctuary Advisors LLC now owns 47,146 shares of the company’s stock valued at $659,000 after purchasing an additional 8,008 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.