Innovex International, Inc. (NYSE:INVX) Given Consensus Recommendation of “Hold” by Analysts

Innovex International, Inc. (NYSE:INVX) has received a consensus rating of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $25.50.

Several analysts have weighed in on the company. Zacks Research cut Innovex International from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Piper Sandler boosted their target price on Innovex International from $20.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Barclays increased their price objective on shares of Innovex International from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Weiss Ratings cut shares of Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 27th.

Insider Activity at Innovex International

In other news, insider Mark Reddout sold 20,000 shares of Innovex International stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $25.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider owned 129,436 shares of the company’s stock, valued at approximately $3,235,900. This trade represents a 13.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of Innovex International stock in a transaction dated 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 sale, the director owned 399 shares of the company’s stock, valued at $9,811.41. This trade represents a 99.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,290,319 shares of company stock worth $326,928,137 in the last quarter. Corporate insiders own 43.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Brandes Investment Partners LP increased its stake in shares of Innovex International by 7.7% in the 2nd quarter. Brandes Investment Partners LP now owns 7,054,674 shares of the company’s stock valued at $110,194,000 after purchasing an additional 504,935 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Innovex International by 5.2% during the second quarter. Geode Capital Management LLC now owns 922,305 shares of the company’s stock valued at $14,408,000 after purchasing an additional 45,174 shares in the last quarter. Heartland Advisors Inc. bought a new stake in Innovex International during the 3rd quarter worth approximately $3,708,000. Bank of Montreal Can bought a new stake in shares of Innovex International in the second quarter worth $158,000. Finally, Empowered Funds LLC grew its position in shares of Innovex International by 294.6% in the 2nd quarter. Empowered Funds LLC now owns 229,378 shares of the company’s stock valued at $3,583,000 after buying an additional 171,247 shares during the last quarter.

Innovex International Stock Up 2.5%

Shares of INVX opened at $26.94 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.91 and a quick ratio of 3.24. The company has a market capitalization of $1.86 billion, a P/E ratio of 22.45 and a beta of 0.72. The business’s 50 day simple moving average is $24.82 and its 200-day simple moving average is $21.38. Innovex International has a one year low of $11.93 and a one year high of $29.48.

Innovex International (NYSE:INVX) last announced its earnings results on Monday, February 23rd. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.09). Innovex International had a net margin of 8.52% and a return on equity of 6.55%. The business had revenue of $273.60 million during the quarter, compared to analyst estimates of $240.00 million.

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.