Innovex International (NYSE:INVX) Upgraded by Jefferies Financial Group to “Strong-Buy” Rating

Innovex International (NYSE:INVX) was upgraded by investment analysts at Jefferies Financial Group to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

INVX has been the subject of a number of other reports. Wall Street Zen upgraded shares of Innovex International from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Barclays increased their target price on Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Piper Sandler boosted their price target on Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Zacks Research raised shares of Innovex International from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Weiss Ratings downgraded shares of Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Innovex International has an average rating of “Moderate Buy” and a consensus price target of $32.25.

Innovex International Stock Performance

Shares of NYSE:INVX opened at $29.50 on Friday. The company’s 50 day moving average price is $27.51 and its two-hundred day moving average price is $25.39. Innovex International has a 12-month low of $14.65 and a 12-month high of $32.25. The firm has a market cap of $2.03 billion, a PE ratio of 39.33 and a beta of 0.82. The company has a quick ratio of 3.38, a current ratio of 5.10 and a debt-to-equity ratio of 0.02.

Insider Activity at Innovex International

In other news, insider Mark Reddout sold 10,750 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $28.00, for a total value of $301,000.00. Following the completion of the transaction, the insider owned 134,312 shares of the company’s stock, valued at approximately $3,760,736. This represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 34.90% of the company’s stock.

Hedge Funds Weigh In On Innovex International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio bought a new stake in shares of Innovex International during the fourth quarter worth $44,000. Smartleaf Asset Management LLC increased its holdings in shares of Innovex International by 31.2% during the third quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock worth $40,000 after buying an additional 511 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Innovex International in the 4th quarter valued at $55,000. Covestor Ltd lifted its stake in shares of Innovex International by 77.7% in the 4th quarter. Covestor Ltd now owns 3,284 shares of the company’s stock valued at $72,000 after acquiring an additional 1,436 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Innovex International by 418.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock valued at $55,000 after acquiring an additional 2,843 shares in the last quarter.

About Innovex International

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.