Innovex International (NYSE:INVX) Price Target Lowered to $13.00 at Barclays

Innovex International (NYSE:INVX) had its price objective cut by Barclays from $16.00 to $13.00 in a research note released on Friday morning,Benzinga reports. They currently have an underweight rating on the stock.

Separately, Pickering Energy Partners upgraded shares of Innovex International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th.

Innovex International Stock Performance

Shares of INVX stock opened at $14.86 on Friday. The business’s fifty day moving average price is $16.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.87. The firm has a market capitalization of $1.03 billion, a PE ratio of 10.54 and a beta of 0.80. Innovex International has a 1 year low of $11.93 and a 1 year high of $19.80.

Innovex International (NYSE:INVX) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.03). The firm had revenue of $240.42 million for the quarter, compared to analyst estimates of $247.73 million. Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%.

Institutional Trading of Innovex International

Large investors have recently made changes to their positions in the stock. Brandes Investment Partners LP lifted its holdings in Innovex International by 41.3% in the 4th quarter. Brandes Investment Partners LP now owns 6,304,068 shares of the company’s stock valued at $88,068,000 after purchasing an additional 1,841,686 shares in the last quarter. Madison Avenue Partners LP lifted its stake in shares of Innovex International by 64.6% during the fourth quarter. Madison Avenue Partners LP now owns 1,686,476 shares of the company’s stock valued at $23,560,000 after buying an additional 662,009 shares during the period. Investment Management Associates Inc. ADV acquired a new stake in Innovex International during the first quarter worth approximately $6,937,000. Vanguard Group Inc. grew its stake in Innovex International by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 4,263,005 shares of the company’s stock worth $59,554,000 after acquiring an additional 221,598 shares during the period. Finally, Invesco Ltd. raised its holdings in Innovex International by 175.8% in the 4th quarter. Invesco Ltd. now owns 332,468 shares of the company’s stock valued at $4,645,000 after acquiring an additional 211,907 shares during the last quarter.

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.