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

Shares of Innovex International, Inc. (NYSE:INVX) have been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $32.75.

A number of brokerages have recently weighed in on INVX. Citigroup lifted their price target on shares of Innovex International from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Wall Street Zen cut shares of Innovex International from a “buy” rating to a “hold” rating in a research report on Monday, August 17th. Jefferies Financial Group raised Innovex International to a “strong-buy” rating in a research note on Friday, June 12th. Weiss Ratings upgraded Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Finally, Barclays boosted their target price on Innovex International from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th.

Insider Activity

In related news, Director Co-Invest Fund L.P. Innovex sold 4,954,467 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $8,928.81. This represents a 99.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amberjack Capital Partners, L. sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $28.71, for a total transaction of $143,550,000.00. Following the sale, the director owned 311 shares in the company, valued at $8,928.81. This trade represents a 99.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,964,467 shares of company stock worth $286,092,748 in the last 90 days. Corporate insiders own 34.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in INVX. BlackRock Inc. acquired a new stake in shares of Innovex International in the 2nd quarter valued at about $160,389,000. Bank of America Corp DE acquired a new position in shares of Innovex International during the second quarter worth about $16,540,000. William Blair Investment Management LLC acquired a new position in shares of Innovex International during the second quarter worth about $11,492,000. Heartland Advisors Inc. bought a new position in shares of Innovex International during the second quarter worth about $11,020,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Innovex International by 14.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,646,376 shares of the company’s stock worth $64,544,000 after buying an additional 335,839 shares in the last quarter.

Innovex International Stock Up 1.0%

INVX stock opened at $28.78 on Tuesday. Innovex International has a 1-year low of $17.01 and a 1-year high of $33.71. The business has a fifty day moving average price of $29.07 and a 200-day moving average price of $27.33. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.01 and a quick ratio of 3.32. The stock has a market capitalization of $2.01 billion, a P/E ratio of 32.34 and a beta of 0.87.

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

Innovex International Company Profile

Innovex International, Inc (NYSE: INVX) is an energy technology and oilfield services company that develops and supplies equipment and solutions for the upstream oil and gas industry. Its products are designed to support well construction, completion, production and integrity throughout the life cycle of a well.

The company’s offerings include downhole tools, completion equipment, wellhead and well-control systems, production technologies, and other specialized products used by exploration and production companies and oilfield service providers.