Innovex International (NYSE:INVX) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Innovex International (NYSE:INVX) from a hold rating to a buy rating in a research note released on Sunday.

Other research analysts also recently issued reports about the stock. Piper Sandler boosted their price objective on shares of Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Barclays increased their target price on shares of Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Zacks Research lowered Innovex International from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Citigroup initiated coverage on Innovex International in a research note on Thursday, May 7th. They set a “buy” rating and a $35.00 price target for the company. Finally, Jefferies Financial Group upgraded Innovex International to a “strong-buy” rating in a report on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Innovex International Stock Down 0.5%

Shares of Innovex International stock opened at $27.96 on Friday. The stock has a 50-day moving average price of $26.60 and a 200 day moving average price of $26.37. The company has a market cap of $1.96 billion, a P/E ratio of 31.41 and a beta of 0.83. The company has a current ratio of 5.01, a quick ratio of 3.32 and a debt-to-equity ratio of 0.02. Innovex International has a 1 year low of $15.76 and a 1 year high of $33.71.

Innovex International (NYSE:INVX) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.36 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 firm had revenue of $244.90 million during the quarter, compared to analyst estimates of $241.58 million. As a group, analysts expect that Innovex International will post 1.44 EPS for the current fiscal year.

Insider Activity at Innovex International

In other news, insider Mark Reddout sold 10,750 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $28.00, for a total transaction of $301,000.00. Following the transaction, the insider owned 134,312 shares in the company, valued at approximately $3,760,736. This trade represents a 7.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 34.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Innovex International

A number of large investors have recently bought and sold shares of the business. Strs Ohio acquired a new position in Innovex International during the fourth quarter worth $44,000. USA Financial Formulas acquired a new stake in shares of Innovex International in the first quarter worth about $53,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Innovex International in the fourth quarter worth about $55,000. Tower Research Capital LLC TRC boosted its stake in shares of Innovex International by 418.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock worth $55,000 after acquiring an additional 2,843 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of Innovex International by 77.7% during the 4th quarter. Covestor Ltd now owns 3,284 shares of the company’s stock worth $72,000 after acquiring an additional 1,436 shares in the last quarter.

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.