Innovex International (INVX) to Release Quarterly Earnings on Monday

Innovex International (NYSE:INVX) will likely be posting its results after the market closes on Monday, August 3rd. Analysts expect Innovex International to post earnings of $0.30 per share and revenue of $241.5770 million for the quarter.

Innovex International Stock Down 0.0%

Shares of NYSE:INVX opened at $26.83 on Monday. The company has a 50 day moving average price of $26.84 and a two-hundred day moving average price of $26.05. Innovex International has a 52 week low of $15.54 and a 52 week high of $32.25. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.38 and a current ratio of 5.10. The company has a market capitalization of $1.84 billion, a PE ratio of 35.77 and a beta of 0.83.

Insider Activity 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 transaction of $301,000.00. Following the sale, the insider directly owned 134,312 shares in the company, valued at approximately $3,760,736. The trade was a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 34.90% of the company’s stock.

Hedge Funds Weigh In On Innovex International

A number of hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its stake in shares of Innovex International by 418.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock worth $55,000 after purchasing an additional 2,843 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Innovex International in the fourth quarter valued at about $55,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Innovex International by 2,334.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,868 shares of the company’s stock worth $106,000 after acquiring an additional 4,668 shares during the last quarter. Polymer Capital Management US LLC acquired a new position in shares of Innovex International in the third quarter worth approximately $197,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Innovex International in the fourth quarter worth approximately $209,000.

Analyst Ratings Changes

Several brokerages have commented on INVX. Zacks Research cut shares of Innovex International from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Wall Street Zen upgraded Innovex International from a “hold” rating to a “buy” rating in a report on Monday, June 22nd. Citigroup started coverage on Innovex International in a research note on Thursday, May 7th. They issued a “buy” rating and a $35.00 price target for the company. Piper Sandler upped their price objective on Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Finally, Jefferies Financial Group upgraded Innovex International to a “strong-buy” rating in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.25.

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.