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

Shares of Innovex International, Inc. (NYSE:INVX) have been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the company, Marketbeat.com reports. Three 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 1 year price target among brokers that have updated their coverage on the stock in the last year is $32.75.

Several equities analysts recently issued reports on INVX shares. Weiss Ratings raised Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Wall Street Zen cut Innovex International from a “buy” rating to a “hold” rating in a research note on Monday, August 17th. Citigroup upped their price target on Innovex International from $35.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday. Jefferies Financial Group raised Innovex International to a “strong-buy” rating in a research report on Friday, June 12th. Finally, Zacks Research downgraded Innovex International from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th.

Innovex International Stock Performance

NYSE:INVX opened at $29.90 on Friday. The company has a quick ratio of 3.32, a current ratio of 5.01 and a debt-to-equity ratio of 0.02. The firm’s fifty day simple moving average is $27.15 and its 200 day simple moving average is $26.81. The stock has a market cap of $2.09 billion, a P/E ratio of 33.60 and a beta of 0.83. Innovex International has a twelve month low of $16.29 and a twelve month high of $33.71.

Innovex International (NYSE:INVX) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.36 earnings per share for the quarter, topping 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 company had revenue of $244.90 million for the quarter, compared to analysts’ expectations of $241.58 million. As a group, research analysts predict that Innovex International will post 1.44 EPS for the current year.

Insider Activity

In other Innovex International news, Director Co-Invest Fund L.P. Innovex sold 4,954,467 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $28.71, for a total transaction of $142,242,747.57. Following the completion of the sale, the director directly owned 311 shares in the company, valued at $8,928.81. The trade was a 99.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark Reddout sold 10,750 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $28.00, for a total transaction of $301,000.00. Following the sale, the insider owned 134,312 shares of the company’s stock, valued at $3,760,736. This trade represents a 7.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 9,975,217 shares of company stock valued at $286,393,748 in the last ninety days. 34.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Innovex International

Large investors have recently added to or reduced their stakes in the company. Amundi boosted its position in shares of Innovex International by 14.3% during the second quarter. Amundi now owns 14,540 shares of the company’s stock worth $361,000 after acquiring an additional 1,823 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Innovex International in the 2nd quarter valued at $317,000. California State Teachers Retirement System increased its holdings in Innovex International by 3,435.6% in the 2nd quarter. California State Teachers Retirement System now owns 1,232,535 shares of the company’s stock valued at $30,567,000 after acquiring an additional 1,197,674 shares during the last quarter. Empowered Funds LLC purchased a new stake in Innovex International in the 2nd quarter worth $8,171,000. Finally, Bank of America Corp DE purchased a new stake in Innovex International in the 2nd quarter worth $16,540,000.

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.