Innovex International (NYSE:INVX) Hits New 12-Month High – Here’s Why

Innovex International, Inc. (NYSE:INVX) reached a new 52-week high on Saturday . The stock traded as high as $22.48 and last traded at $22.0770, with a volume of 772624 shares trading hands. The stock had previously closed at $20.43.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Innovex International in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Innovex International currently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Innovex International Price Performance

The company has a quick ratio of 2.69, a current ratio of 4.60 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.52 billion, a PE ratio of 7.64 and a beta of 0.77. The firm’s 50 day simple moving average is $18.69 and its 200 day simple moving average is $16.85.

Innovex International (NYSE:INVX) last announced its earnings results on Wednesday, February 23rd. The company reported ($0.12) earnings per share (EPS) for the quarter. Innovex International had a net margin of 16.66% and a return on equity of 8.58%. The business had revenue of $87.23 million for the quarter.

Hedge Funds Weigh In On Innovex International

A number of institutional investors have recently modified their holdings of INVX. Creative Planning boosted its holdings in shares of Innovex International by 11.2% in the third quarter. Creative Planning now owns 20,930 shares of the company’s stock valued at $388,000 after purchasing an additional 2,101 shares during the period. Freestone Grove Partners LP bought a new stake in Innovex International during the 3rd quarter valued at $1,517,000. California State Teachers Retirement System lifted its holdings in shares of Innovex International by 21.0% in the 3rd quarter. California State Teachers Retirement System now owns 37,734 shares of the company’s stock worth $700,000 after buying an additional 6,553 shares during the period. Bridgeway Capital Management LLC grew its position in shares of Innovex International by 34.0% during the 3rd quarter. Bridgeway Capital Management LLC now owns 461,056 shares of the company’s stock worth $8,548,000 after buying an additional 116,878 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Innovex International by 52.4% during the third quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock valued at $45,141,000 after buying an additional 837,027 shares during the period.

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.