Innovex International (NYSE:INVX) Sets New 12-Month High – Still a Buy?

Innovex International, Inc. (NYSE:INVX)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $21.51 and last traded at $20.4850, with a volume of 27067 shares changing hands. The stock had previously closed at $20.42.

Analyst Ratings Changes

INVX has been the subject of a number of research reports. Piper Sandler initiated coverage on Innovex International in a research report on Tuesday, July 15th. They set an “overweight” rating and a $20.00 price objective for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Innovex International in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Innovex International Stock Down 1.4%

The company has a fifty day simple moving average of $18.22 and a 200-day simple moving average of $16.62. The company has a quick ratio of 2.69, a current ratio of 4.60 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.34 billion, a P/E ratio of 6.72 and a beta of 0.77.

Innovex International (NYSE:INVX) last released its quarterly earnings results on Wednesday, February 23rd. The company reported ($0.12) earnings per share (EPS) for the quarter. Innovex International had a net margin of 16.66% and a return on equity of 8.58%. The company had revenue of $87.23 million for the quarter.

Institutional Trading of Innovex International

Several hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in shares of Innovex International by 169.7% in the first quarter. GAMMA Investing LLC now owns 2,101 shares of the company’s stock worth $38,000 after acquiring an additional 1,322 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Innovex International by 2.3% in the first quarter. New York State Teachers Retirement System now owns 61,132 shares of the company’s stock worth $1,098,000 after acquiring an additional 1,399 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Innovex International by 5.6% in the first quarter. Principal Financial Group Inc. now owns 192,628 shares of the company’s stock worth $3,460,000 after acquiring an additional 10,170 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Innovex International by 20.4% in the first quarter. Bank of New York Mellon Corp now owns 312,768 shares of the company’s stock worth $5,617,000 after acquiring an additional 53,022 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Innovex International by 29.0% in the first quarter. Envestnet Asset Management Inc. now owns 37,883 shares of the company’s stock worth $680,000 after acquiring an additional 8,507 shares during the period.

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.