Innovex International (NYSE:INVX) Sets New 1-Year High on Analyst Upgrade

Innovex International, Inc. (NYSE:INVXGet Free Report) reached a new 52-week high on Monday after Piper Sandler raised their price target on the stock from $33.00 to $34.00. Piper Sandler currently has an overweight rating on the stock. Innovex International traded as high as $29.88 and last traded at $29.41, with a volume of 205232 shares trading hands. The stock had previously closed at $28.00.

Several other equities analysts have also recently weighed in on INVX. Barclays increased their price target on Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Zacks Research cut Innovex International from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Citigroup assumed coverage on Innovex International in a report on Thursday, May 7th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Weiss Ratings cut Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.67.

View Our Latest Stock Report on Innovex International

Insiders Place Their Bets

In other Innovex International news, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $24.59, for a total value of $162,601,375.00. Following the completion of the sale, the director owned 399 shares in the company, valued at approximately $9,811.41. This represents a 99.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Amberjack Capital Partners, L. sold 6,612,500 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $24.59, for a total value of $162,601,375.00. Following the completion of the sale, the director owned 399 shares of the company’s stock, valued at $9,811.41. The trade was a 99.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 13,257,078 shares of company stock worth $326,097,112. Corporate insiders own 34.90% of the company’s stock.

Institutional Investors Weigh In On Innovex International

A number of institutional investors have recently bought and sold shares of INVX. Covestor Ltd boosted its holdings 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 valued at $34,000 after purchasing an additional 1,841 shares during the last quarter. Strs Ohio bought a new position in shares of Innovex International during the 4th quarter valued at about $44,000. Smartleaf Asset Management LLC boosted its holdings in shares of Innovex International by 31.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock valued at $40,000 after purchasing an additional 511 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Innovex International in the 4th quarter valued at about $55,000. Finally, Westfuller Advisors LLC bought a new position in shares of Innovex International in the 3rd quarter valued at about $53,000.

Innovex International Trading Up 4.5%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.38 and a current ratio of 5.10. The stock’s fifty day moving average is $26.00 and its 200 day moving average is $24.30. The stock has a market cap of $2.01 billion, a P/E ratio of 39.04 and a beta of 0.84.

Innovex International (NYSE:INVXGet Free Report) last announced its quarterly earnings results on Monday, February 23rd. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.09). Innovex International had a net margin of 5.31% and a return on equity of 6.72%. The business had revenue of $273.60 million during the quarter, compared to the consensus estimate of $240.00 million. As a group, equities research analysts predict that Innovex International, Inc. will post 1.32 earnings per share for the current fiscal year.

About Innovex International

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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.

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