Innovex International (NYSE:INVX) Upgraded at Zacks Research

Innovex International (NYSE:INVX) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Several other research firms have also issued reports on INVX. Wall Street Zen lowered Innovex International from a “buy” rating to a “hold” rating in a research report on Sunday. Barclays raised their target price on Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Citigroup began coverage on Innovex International in a research note on Thursday, May 7th. They issued a “buy” rating and a $35.00 target price for the company. Jefferies Financial Group raised Innovex International to a “strong-buy” rating in a research report on Friday, June 12th. Finally, Weiss Ratings lowered Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.25.

Innovex International Price Performance

Shares of NYSE INVX opened at $26.18 on Tuesday. The firm has a market capitalization of $1.80 billion, a P/E ratio of 34.91 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. The stock’s 50-day simple moving average is $27.66 and its two-hundred day simple moving average is $25.51. Innovex International has a twelve month low of $14.65 and a twelve month high of $32.25.

Insider Transactions at Innovex International

In other news, insider Mark Reddout sold 10,750 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $28.00, for a total value of $301,000.00. Following the transaction, the insider directly owned 134,312 shares in the company, valued at $3,760,736. The trade was a 7.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 34.90% of the company’s stock.

Hedge Funds Weigh In On Innovex International

Several large investors have recently made changes to their positions in INVX. AQR Capital Management LLC purchased a new position in shares of Innovex International in the first quarter valued at about $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Innovex International by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock valued at $379,000 after acquiring an additional 1,467 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Innovex International in the first quarter valued at about $270,000. Empowered Funds LLC lifted its position in shares of Innovex International by 8.2% in the first quarter. Empowered Funds LLC now owns 58,131 shares of the company’s stock valued at $1,044,000 after acquiring an additional 4,386 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Innovex International by 11.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,225 shares of the company’s stock valued at $1,764,000 after acquiring an additional 10,401 shares in the last quarter.

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.