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

Innovex International, Inc. (NYSE:INVX) has earned an average rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $31.6667.

A number of brokerages have weighed in on INVX. Weiss Ratings lowered Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Zacks Research lowered Innovex International from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Piper Sandler raised their price objective on Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Monday. Citigroup began coverage on Innovex International in a report on Thursday, May 7th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Barclays raised their price objective on Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, May 8th.

Innovex International Trading Up 2.9%

INVX stock opened at $31.17 on Wednesday. The company has a current ratio of 5.10, a quick ratio of 3.38 and a debt-to-equity ratio of 0.02. Innovex International has a 12-month low of $13.44 and a 12-month high of $32.25. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 41.55 and a beta of 0.84. The business’s 50-day moving average is $26.15 and its 200 day moving average is $24.44.

Innovex International (NYSE:INVX) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.09). Innovex International had a return on equity of 6.72% and a net margin of 5.31%.The firm had revenue of $273.60 million during the quarter, compared to analyst estimates of $240.00 million. On average, sell-side analysts anticipate that Innovex International will post 1.32 EPS for the current fiscal year.

Insider Buying and Selling at Innovex International

In other Innovex International news, Director Amberjack Capital Partners, L. sold 6,612,500 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $24.59, for a total value of $162,601,375.00. Following the completion of the sale, the director owned 399 shares in the company, valued at approximately $9,811.41. This represents a 99.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the completion of the sale, the director owned 399 shares of the company’s stock, valued at approximately $9,811.41. The trade was a 99.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 13,257,078 shares of company stock worth $326,097,112. Insiders own 34.90% of the company’s stock.

Institutional Trading of Innovex International

Several large investors have recently added to or reduced their stakes in INVX. Wellington Management Group LLP grew its holdings in Innovex International by 52.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock valued at $45,141,000 after buying an additional 837,027 shares in the last quarter. SG Americas Securities LLC purchased a new position in Innovex International during the fourth quarter worth about $12,702,000. Dimensional Fund Advisors LP raised its stake in Innovex International by 14.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,646,376 shares of the company’s stock worth $64,544,000 after purchasing an additional 335,839 shares during the period. Bank of America Corp DE raised its stake in Innovex International by 102.5% during the first quarter. Bank of America Corp DE now owns 654,265 shares of the company’s stock worth $15,958,000 after purchasing an additional 331,178 shares during the period. Finally, Bridgeway Capital Management LLC raised its stake in Innovex International by 371.9% during the second quarter. Bridgeway Capital Management LLC now owns 344,178 shares of the company’s stock worth $5,376,000 after purchasing an additional 271,247 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.