Innovex International (NYSE:INVX) Price Target Cut to $13.00 by Analysts at Barclays

Innovex International (NYSE:INVX) had its price objective lowered by Barclays from $16.00 to $13.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

Separately, Pickering Energy Partners upgraded Innovex International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th.

Innovex International Stock Performance

Shares of INVX stock opened at $14.86 on Friday. The company has a quick ratio of 2.17, a current ratio of 3.87 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 10.54 and a beta of 0.80. Innovex International has a one year low of $11.93 and a one year high of $19.80. The stock’s 50 day moving average is $16.44.

Innovex International (NYSE:INVX) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%. The firm had revenue of $240.42 million for the quarter, compared to analyst estimates of $247.73 million.

Hedge Funds Weigh In On Innovex International

Hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE raised its position in Innovex International by 234.0% in the first quarter. US Bancorp DE now owns 1,533 shares of the company’s stock valued at $28,000 after purchasing an additional 1,074 shares during the period. GAMMA Investing LLC grew its stake in shares of Innovex International by 169.7% in the first quarter. GAMMA Investing LLC now owns 2,101 shares of the company’s stock valued at $38,000 after buying an additional 1,322 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Innovex International during the 4th quarter valued at about $88,000. PNC Financial Services Group Inc. lifted its position in Innovex International by 15.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,880 shares of the company’s stock worth $106,000 after acquiring an additional 794 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Innovex International by 9.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,852 shares of the company’s stock worth $124,000 after acquiring an additional 758 shares during the period.

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.