Innovex International, Inc. (NYSE:INVX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Innovex International, Inc. (NYSE:INVX) have received a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $32.25.

A number of equities analysts have commented on INVX shares. Piper Sandler lifted their price objective on shares of Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Barclays increased their price target on shares of Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Zacks Research cut Innovex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Weiss Ratings upgraded Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Finally, Jefferies Financial Group raised Innovex International to a “strong-buy” rating in a research note on Friday, June 12th.

Insider Transactions at Innovex International

In related news, insider Mark Reddout sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the insider directly owned 124,312 shares in the company, valued at $3,729,360. This trade represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 34.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Innovex International

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio bought a new position in Innovex International during the 4th quarter valued at about $44,000. USA Financial Formulas bought a new stake in Innovex International in the first quarter worth about $53,000. Aster Capital Management DIFC Ltd bought a new stake in Innovex International in the fourth quarter worth about $55,000. Covestor Ltd boosted its position in shares of Innovex International by 77.7% during the fourth quarter. Covestor Ltd now owns 3,284 shares of the company’s stock valued at $72,000 after buying an additional 1,436 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of Innovex International by 418.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock valued at $55,000 after buying an additional 2,843 shares during the last quarter.

Innovex International Price Performance

NYSE:INVX opened at $27.96 on Monday. The company has a current ratio of 5.01, a quick ratio of 3.32 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.96 billion, a P/E ratio of 31.41 and a beta of 0.83. Innovex International has a 12 month low of $15.76 and a 12 month high of $33.71. The business’s 50-day moving average is $26.60 and its 200 day moving average is $26.37.

Innovex International (NYSE:INVX) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Innovex International had a return on equity of 7.12% and a net margin of 6.17%.The business had revenue of $244.90 million for the quarter, compared to the consensus estimate of $241.58 million. On average, equities research analysts forecast that Innovex International will post 1.44 earnings per share for the current fiscal year.

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.