Innovex International (NYSE:INVX) Sets New 1-Year High – Should You Buy?

Shares of Innovex International, Inc. (NYSE:INVX) reached a new 52-week high during trading on Tuesday . The stock traded as high as $27.28 and last traded at $27.24, with a volume of 1509723 shares changing hands. The stock had previously closed at $25.47.

Analyst Ratings Changes

Several analysts have issued reports on INVX shares. Weiss Ratings restated a “buy (b-)” rating on shares of Innovex International in a research report on Monday, December 29th. Piper Sandler boosted their target price on Innovex International from $20.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Innovex International Trading Up 1.2%

The company has a debt-to-equity ratio of 0.02, a current ratio of 4.91 and a quick ratio of 2.93. The firm’s 50 day moving average price is $24.28 and its 200 day moving average price is $20.99. The stock has a market capitalization of $2.02 billion, a P/E ratio of 24.38 and a beta of 0.75.

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

Insiders Place Their Bets

In related news, CEO Adam Anderson sold 18,837 shares of Innovex International stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $28.50, for a total value of $536,854.50. Following the sale, the chief executive officer owned 466,744 shares in the company, valued at $13,302,204. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark Reddout sold 20,000 shares of the business’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $25.00, for a total transaction of $500,000.00. Following the transaction, the insider directly owned 129,436 shares in the company, valued at approximately $3,235,900. The trade was a 13.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 65,319 shares of company stock valued at $1,725,387 in the last ninety days. 43.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in INVX. Covestor Ltd grew its stake in Innovex International by 26,300.0% in the third quarter. Covestor Ltd now owns 1,848 shares of the company’s stock worth $34,000 after purchasing an additional 1,841 shares during the period. Smartleaf Asset Management LLC lifted 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 valued at $40,000 after acquiring an additional 511 shares during the period. Strs Ohio purchased a new stake in Innovex International in the fourth quarter worth about $44,000. First Horizon Advisors Inc. increased its stake in shares of Innovex International by 150.3% during the second quarter. First Horizon Advisors Inc. now owns 3,367 shares of the company’s stock valued at $53,000 after purchasing an additional 2,022 shares in the last quarter. Finally, Westfuller Advisors LLC purchased a new position in shares of Innovex International during the third quarter valued at approximately $53,000.

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.