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

Shares of Innovex International, Inc. (NYSE:INVX) have earned a consensus rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $32.25.

A number of equities research analysts have recently issued reports on the stock. Piper Sandler lifted their price target 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. Jefferies Financial Group upgraded shares of Innovex International to a “strong-buy” rating in a research report on Friday. Wall Street Zen downgraded shares of Innovex International from a “buy” rating to a “hold” rating in a research report on Sunday. Citigroup assumed coverage on shares of Innovex International in a research report on Thursday, May 7th. They set a “buy” rating and a $35.00 price target for the company. Finally, Barclays lifted their price target on shares of Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th.

Insider Activity

In other news, insider Mark Reddout sold 10,750 shares of Innovex International stock in a transaction that occurred 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 completion of the sale, the insider directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 34.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Glenmede Trust Co. NA acquired a new position in shares of Innovex International during the 1st quarter worth approximately $709,000. Bank of America Corp DE raised its position in shares of Innovex International by 102.5% during the 1st quarter. Bank of America Corp DE now owns 654,265 shares of the company’s stock worth $15,958,000 after purchasing an additional 331,178 shares during the last quarter. Amundi acquired a new position in shares of Innovex International during the 1st quarter worth approximately $310,000. Royal Bank of Canada raised its position in shares of Innovex International by 21.8% during the 1st quarter. Royal Bank of Canada now owns 35,554 shares of the company’s stock worth $867,000 after purchasing an additional 6,374 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Innovex International by 3.6% during the 1st quarter. Empowered Funds LLC now owns 325,179 shares of the company’s stock worth $7,931,000 after purchasing an additional 11,259 shares during the last quarter.

Innovex International Price Performance

INVX stock opened at $29.50 on Friday. The firm has a 50 day moving average of $27.51 and a 200-day moving average of $25.39. Innovex International has a 12-month low of $14.65 and a 12-month high of $32.25. The company has a current ratio of 5.10, a quick ratio of 3.38 and a debt-to-equity ratio of 0.02. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 39.33 and a beta of 0.82.

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.