Analysts Set Innovex International, Inc. (NYSE:INVX) Target Price at $20.00

Shares of Innovex International, Inc. (NYSE:INVX) have earned a consensus rating of “Moderate Buy” from the four brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $20.00.

A number of research analysts recently issued reports on INVX shares. Piper Sandler lifted their target price on Innovex International from $20.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Weiss Ratings restated a “buy (b-)” rating on shares of Innovex International in a research report on Monday, December 29th.

Innovex International Trading Up 4.2%

Innovex International stock opened at $24.55 on Friday. Innovex International has a 12-month low of $11.93 and a 12-month high of $24.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.78 and a quick ratio of 2.93. The stock has a market capitalization of $1.69 billion, a PE ratio of 16.70 and a beta of 0.74. The firm has a 50 day simple moving average of $22.23 and a 200-day simple moving average of $19.03.

Innovex International (NYSE:INVX) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.09). Innovex International had a net margin of 10.59% and a return on equity of 8.51%. The firm had revenue of $240.00 million for the quarter, compared to the consensus estimate of $235.00 million.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Covestor Ltd boosted its stake in shares of Innovex International by 26,300.0% during the 3rd quarter. Covestor Ltd now owns 1,848 shares of the company’s stock worth $34,000 after acquiring an additional 1,841 shares in the last quarter. Smartleaf Asset Management LLC raised its position 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 worth $40,000 after purchasing an additional 511 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Innovex International by 150.3% during the second quarter. First Horizon Advisors Inc. now owns 3,367 shares of the company’s stock valued at $53,000 after purchasing an additional 2,022 shares during the last quarter. Westfuller Advisors LLC acquired a new position in shares of Innovex International in the 3rd quarter valued at $53,000. Finally, Tower Research Capital LLC TRC increased its stake in Innovex International by 418.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock worth $55,000 after purchasing an additional 2,843 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.