Innovex International (NYSE:INVX) Stock Rating Upgraded by Zacks Research

Innovex International (NYSE:INVX) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Innovex International from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings cut shares of Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Jefferies Financial Group raised shares of Innovex International to a “strong-buy” rating in a research note on Friday, June 12th. Citigroup began coverage on shares of Innovex International in a research note on Thursday, May 7th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Barclays increased 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 note on Friday, May 8th. Three equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Innovex International currently has an average rating of “Buy” and a consensus target price of $32.25.

Innovex International Price Performance

Shares of Innovex International stock opened at $26.18 on Tuesday. 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 stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 34.91 and a beta of 0.82. Innovex International has a 1-year low of $14.65 and a 1-year high of $32.25. The firm’s 50-day moving average price is $27.66 and its two-hundred day moving average price is $25.51.

Insider Activity at Innovex International

In other news, insider Mark Reddout sold 10,750 shares of the 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 sale, the insider directly owned 134,312 shares of the company’s stock, valued at $3,760,736. This represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 34.90% of the stock is owned by company insiders.

Institutional Trading of Innovex International

Hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its stake in shares of Innovex International by 31.2% during the third quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock valued at $40,000 after purchasing an additional 511 shares during the last quarter. Strs Ohio acquired a new position in Innovex International in the fourth quarter valued at approximately $44,000. Aster Capital Management DIFC Ltd acquired a new position in Innovex International in the fourth quarter valued at approximately $55,000. Tower Research Capital LLC TRC lifted its holdings in Innovex International by 418.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock valued at $55,000 after buying an additional 2,843 shares during the period. Finally, Covestor Ltd lifted its holdings in Innovex International by 77.7% in the fourth quarter. Covestor Ltd now owns 3,284 shares of the company’s stock valued at $72,000 after buying an additional 1,436 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.