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

Innovex International, Inc. (NYSE:INVX) has been given an average recommendation of “Hold” by the five ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $25.50.

A number of research firms have issued reports on INVX. Zacks Research downgraded shares of Innovex International from a “hold” rating to a “strong sell” rating in a report on Wednesday. Barclays increased their target price on shares of Innovex International from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday. Weiss Ratings cut shares of Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 27th. Finally, Piper Sandler upped their price objective on shares of Innovex International from $20.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th.

Insiders Place Their Bets

In related news, insider Mark Reddout sold 20,000 shares of Innovex International stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $25.00, for a total transaction of $500,000.00. Following the sale, the insider directly owned 129,436 shares in the company, valued at approximately $3,235,900. This trade represents a 13.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amberjack Capital Partners, L. sold 6,612,500 shares of the business’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $24.59, for a total value of $162,601,375.00. Following the completion of the transaction, the director directly owned 399 shares in the company, valued at approximately $9,811.41. This represents a 99.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 13,290,319 shares of company stock valued at $326,928,137. Insiders own 43.90% of the company’s stock.

Institutional Investors Weigh In On Innovex International

Large investors have recently made changes to their positions in the business. Covestor Ltd raised its stake in shares of Innovex International by 26,300.0% during the 3rd quarter. Covestor Ltd now owns 1,848 shares of the company’s stock worth $34,000 after purchasing an additional 1,841 shares during the period. Strs Ohio purchased a new stake in Innovex International during the fourth quarter worth about $44,000. Smartleaf Asset Management LLC increased its holdings in 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 during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Innovex International in the fourth quarter worth about $55,000. Finally, Westfuller Advisors LLC purchased a new position in Innovex International in the third quarter valued at about $53,000.

Innovex International Stock Performance

Shares of Innovex International stock opened at $26.94 on Friday. Innovex International has a 52 week low of $11.93 and a 52 week high of $29.48. The company has a quick ratio of 3.24, a current ratio of 4.91 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $24.82 and a 200-day moving average price of $21.38. The company has a market cap of $1.86 billion, a PE ratio of 22.45 and a beta of 0.72.

Innovex International (NYSE:INVX) last announced its earnings results 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). The company had revenue of $273.60 million for the quarter, compared to analysts’ expectations of $240.00 million. Innovex International had a net margin of 8.52% and a return on equity of 6.55%.

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.