Innovex International, Inc. (NYSE:INVX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Innovex International, Inc. (NYSE:INVX) has been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $32.25.

A number of research analysts have recently commented on INVX shares. Weiss Ratings downgraded Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Barclays boosted their price target 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 downgraded shares of Innovex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Citigroup started coverage on shares of Innovex International in a research report on Thursday, May 7th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Jefferies Financial Group upgraded shares of Innovex International to a “strong-buy” rating in a report on Friday, June 12th.

Innovex International Stock Performance

NYSE:INVX opened at $28.16 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.10 and a quick ratio of 3.38. Innovex International has a 1 year low of $15.54 and a 1 year high of $32.25. The stock’s 50 day simple moving average is $26.43 and its two-hundred day simple moving average is $26.17. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 37.54 and a beta of 0.83.

Insider Activity at Innovex International

In related news, insider Mark Reddout sold 10,750 shares of Innovex International stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $28.00, for a total value of $301,000.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 34.90% of the company’s stock.

Institutional Investors Weigh In On Innovex International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INVX. Dimensional Fund Advisors LP lifted its stake in shares of Innovex International by 14.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,646,376 shares of the company’s stock valued at $64,544,000 after purchasing an additional 335,839 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Innovex International by 52.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock valued at $45,141,000 after purchasing an additional 837,027 shares during the last quarter. State Street Corp increased its position in shares of Innovex International by 0.7% during the 4th quarter. State Street Corp now owns 1,601,149 shares of the company’s stock valued at $35,017,000 after purchasing an additional 11,160 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Innovex International by 2.6% during the 4th quarter. MetLife Investment Management LLC now owns 828,757 shares of the company’s stock valued at $18,125,000 after buying an additional 20,873 shares during the period. Finally, Bank of America Corp DE raised its holdings in Innovex International by 102.5% during the 1st quarter. Bank of America Corp DE now owns 654,265 shares of the company’s stock valued at $15,958,000 after buying an additional 331,178 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.