Innovex International, Inc. (NYSE:INVX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Innovex International, Inc. (NYSE:INVX) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $32.75.

A number of research analysts have recently commented on INVX shares. Jefferies Financial Group raised Innovex International to a “strong-buy” rating in a research report on Friday, June 12th. Citigroup raised their target price on Innovex International from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Wall Street Zen cut shares of Innovex International from a “buy” rating to a “hold” rating in a research report on Monday, August 17th. 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, Weiss Ratings upgraded shares of Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th.

Innovex International Trading Down 5.2%

NYSE:INVX opened at $27.31 on Tuesday. Innovex International has a 12 month low of $16.75 and a 12 month high of $33.71. The company has a current ratio of 5.01, a quick ratio of 3.32 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average is $28.79 and its 200 day moving average is $27.27. The stock has a market capitalization of $1.91 billion, a PE ratio of 30.69 and a beta of 0.87.

Innovex International (NYSE:INVX) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05. Innovex International had a return on equity of 7.12% and a net margin of 6.17%.The business had revenue of $244.90 million during the quarter, compared to analyst estimates of $241.58 million.

Insider Buying and Selling at Innovex International

In other Innovex International news, insider Mark Reddout sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the sale, the insider owned 124,312 shares in the company, valued at $3,729,360. This trade represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amberjack Capital Partners, L. sold 5,000,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $28.71, for a total value of $143,550,000.00. Following the completion of the sale, the director owned 311 shares of the company’s stock, valued at $8,928.81. The trade was a 99.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,964,467 shares of company stock worth $286,092,748 over the last 90 days. Corporate insiders own 34.90% of the company’s stock.

Institutional Trading of Innovex International

Several institutional investors have recently added to or reduced their stakes in INVX. Freestone Grove Partners LP bought a new position in shares of Innovex International during the second quarter valued at about $43,000. USA Financial Formulas purchased a new stake in Innovex International during the 1st quarter valued at about $53,000. Covestor Ltd grew its position 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 acquiring an additional 1,436 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Innovex International in the 4th quarter worth approximately $103,000. Finally, Quantinno Capital Management LP bought a new stake in Innovex International in the first quarter valued at approximately $215,000.

About Innovex International

Innovex International, Inc (NYSE: INVX) is an energy technology and oilfield services company that develops and supplies equipment and solutions for the upstream oil and gas industry. Its products are designed to support well construction, completion, production and integrity throughout the life cycle of a well.

The company’s offerings include downhole tools, completion equipment, wellhead and well-control systems, production technologies, and other specialized products used by exploration and production companies and oilfield service providers.