Innovex International, Inc. (NYSE:INVX – Get Free Report)’s stock price traded down 6.4% during trading on Wednesday . The stock traded as low as $28.09 and last traded at $28.0310. 229,229 shares were traded during mid-day trading, a decline of 55% from the average session volume of 513,494 shares. The stock had previously closed at $29.95.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. Weiss Ratings downgraded shares of Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Zacks Research raised shares of Innovex International from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Citigroup started coverage on shares of Innovex International in a research report on Thursday, May 7th. They set a “buy” rating and a $35.00 price objective for the company. Barclays increased their price objective on shares of Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, Piper Sandler increased their price objective on shares of Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.67.
View Our Latest Analysis on INVX
Innovex International Price Performance
Innovex International (NYSE:INVX – Get Free Report) last issued its quarterly earnings data on Monday, February 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.09). Innovex International had a return on equity of 6.72% and a net margin of 5.31%.The company had revenue of $273.60 million for the quarter, compared to the consensus estimate of $240.00 million. As a group, sell-side analysts predict that Innovex International, Inc. will post 1.44 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Heartland Advisors Inc. acquired a new stake in Innovex International in the third quarter valued at $3,708,000. SG Americas Securities LLC acquired a new stake in Innovex International in the fourth quarter valued at $12,702,000. Fisher Asset Management LLC lifted its stake in Innovex International by 69.0% in the third quarter. Fisher Asset Management LLC now owns 228,887 shares of the company’s stock valued at $4,244,000 after acquiring an additional 93,412 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Innovex International in the fourth quarter valued at $919,000. Finally, Citigroup Inc. lifted its stake in Innovex International by 79.8% in the third quarter. Citigroup Inc. now owns 197,020 shares of the company’s stock valued at $3,653,000 after acquiring an additional 87,458 shares during the last quarter.
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.
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