Innovex International, Inc. (NYSE:INVX – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, one has issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $31.6667.
Several research firms recently commented on INVX. Zacks Research lowered Innovex International from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Barclays raised their target price on Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Piper Sandler raised their target price on Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings lowered Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Citigroup initiated coverage on shares of Innovex International in a report on Thursday, May 7th. They set a “buy” rating and a $35.00 price target on the stock.
Read Our Latest Stock Analysis on Innovex International
Innovex International Stock Up 2.9%
Innovex International (NYSE:INVX – Get Free Report) last released its quarterly earnings data on Monday, February 23rd. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.09). The business had revenue of $273.60 million during the quarter, compared to analyst estimates of $240.00 million. Innovex International had a return on equity of 6.72% and a net margin of 5.31%. As a group, equities research analysts anticipate that Innovex International will post 1.32 EPS for the current year.
Insider Buying and Selling
In related news, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the sale, the director directly owned 399 shares of the company’s stock, valued at approximately $9,811.41. This represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Adam Anderson sold 18,837 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $28.50, for a total value of $536,854.50. Following the completion of the transaction, the chief executive officer directly owned 466,744 shares of the company’s stock, valued at $13,302,204. The trade was a 3.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 13,257,078 shares of company stock valued at $326,097,112. Corporate insiders own 34.90% of the company’s stock.
Hedge Funds Weigh In On Innovex International
Large investors have recently bought and sold shares of the business. Heartland Advisors Inc. acquired a new position in Innovex International in the 3rd quarter worth about $3,708,000. SG Americas Securities LLC purchased a new stake in Innovex International in the 4th quarter worth $12,702,000. Fisher Asset Management LLC increased its holdings in Innovex International by 69.0% in the 3rd quarter. Fisher Asset Management LLC now owns 228,887 shares of the company’s stock worth $4,244,000 after acquiring an additional 93,412 shares in the last quarter. Citigroup Inc. increased its holdings in Innovex International by 79.8% in the 3rd quarter. Citigroup Inc. now owns 197,020 shares of the company’s stock worth $3,653,000 after acquiring an additional 87,458 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC purchased a new stake in Innovex International in the 4th quarter worth $5,821,000.
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.
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