Innovex International, Inc. (NYSE:INVX) Receives $31.67 Consensus PT from Analysts

Innovex International, Inc. (NYSE:INVX) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $31.6667.

A number of equities research analysts have recently commented on INVX shares. Weiss Ratings lowered Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Zacks Research upgraded Innovex International from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Barclays raised their target price on shares of Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Citigroup began coverage on shares of Innovex International in a research note on Thursday, May 7th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, Piper Sandler upped their price target on shares of Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, May 18th.

Innovex International Price Performance

INVX opened at $29.96 on Wednesday. The stock has a market cap of $2.06 billion, a P/E ratio of 39.95 and a beta of 0.84. Innovex International has a 12 month low of $13.44 and a 12 month high of $32.25. The company has a quick ratio of 3.38, a current ratio of 5.10 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $26.64 and a 200 day simple moving average of $24.80.

Innovex International (NYSE:INVX) last posted its earnings results on Monday, February 23rd. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.09). Innovex International had a return on equity of 6.72% and a net margin of 5.31%.The business had revenue of $273.60 million for the quarter, compared to the consensus estimate of $240.00 million. On average, research analysts expect that Innovex International will post 1.44 EPS for the current year.

Insider Buying and Selling at Innovex International

In related news, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $24.59, for a total value of $162,601,375.00. Following the sale, the director directly owned 399 shares of the company’s stock, valued at approximately $9,811.41. The trade was a 99.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Amberjack Capital Partners, L. sold 6,612,500 shares of the company’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the completion of the transaction, the director directly owned 399 shares of the company’s stock, valued at approximately $9,811.41. The trade was a 99.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 34.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Covestor Ltd raised its position in Innovex International by 26,300.0% in the 3rd quarter. Covestor Ltd now owns 1,848 shares of the company’s stock valued at $34,000 after buying an additional 1,841 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Innovex International by 31.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock worth $40,000 after acquiring an additional 511 shares during the last quarter. Strs Ohio bought a new position in shares of Innovex International during the 4th quarter worth approximately $44,000. Westfuller Advisors LLC bought a new position in shares of Innovex International during the 3rd quarter worth approximately $53,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Innovex International in the fourth quarter valued at approximately $55,000.

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.