Innovex International, Inc. (NYSE:INVX) Stock Has Average Price Target of $32.75

Innovex International, Inc. (NYSE:INVX) has received an average rating of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $32.75.

A number of brokerages have issued reports on INVX. Wall Street Zen cut shares of Innovex International from a “buy” rating to a “hold” rating in a research note on Monday, August 17th. Weiss Ratings raised Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Barclays raised their price target on Innovex International from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Zacks Research cut Innovex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Finally, Citigroup raised their target price on Innovex International from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th.

Innovex International Stock Up 0.1%

Shares of NYSE:INVX opened at $28.58 on Tuesday. The company has a quick ratio of 3.32, a current ratio of 5.01 and a debt-to-equity ratio of 0.02. The firm has a market cap of $2.00 billion, a P/E ratio of 32.11 and a beta of 0.87. Innovex International has a 12 month low of $17.01 and a 12 month high of $33.71. The company’s 50-day moving average price is $29.00 and its two-hundred day moving average price is $27.31.

Innovex International (NYSE:INVX) last announced its earnings results on Monday, August 3rd. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. The company had revenue of $244.90 million during the quarter, compared to the consensus estimate of $241.58 million. Innovex International had a net margin of 6.17% and a return on equity of 7.12%. As a group, research analysts forecast that Innovex International will post 1.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mark Reddout sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the transaction, the insider owned 124,312 shares of the company’s stock, valued at $3,729,360. The trade was a 7.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Co-Invest Fund L.P. Innovex sold 4,954,467 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $28.71, for a total transaction of $142,242,747.57. Following the completion of the sale, the director owned 311 shares of the company’s stock, valued at approximately $8,928.81. This represents a 99.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 9,964,467 shares of company stock worth $286,092,748. Company insiders own 34.90% of the company’s stock.

Institutional Investors Weigh In On Innovex International

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Innovex International by 14.5% in the first 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 in the last quarter. Royce & Associates LP bought a new position in shares of Innovex International during the fourth quarter worth about $415,000. Sei Investments Co. grew its holdings in shares of Innovex International by 70.5% during the first quarter. Sei Investments Co. now owns 126,288 shares of the company’s stock worth $3,080,000 after buying an additional 52,218 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Innovex International in the 2nd quarter valued at approximately $11,492,000. Finally, Legal & General Group Plc acquired a new stake in Innovex International in the 2nd quarter valued at approximately $2,499,000.

About Innovex International

Innovex International, Inc (NYSE: INVX) is an energy technology and oilfield services company that develops and supplies equipment and solutions for the upstream oil and gas industry. Its products are designed to support well construction, completion, production and integrity throughout the life cycle of a well.

The company’s offerings include downhole tools, completion equipment, wellhead and well-control systems, production technologies, and other specialized products used by exploration and production companies and oilfield service providers.