Innovex International (NYSE:INVX – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Monday.
Several other research firms also recently commented on INVX. Weiss Ratings raised shares of Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Jefferies Financial Group raised shares of Innovex International to a “strong-buy” rating in a report on Friday, June 12th. Citigroup initiated coverage on shares of Innovex International in a research report on Thursday, May 7th. They set a “buy” rating and a $35.00 target price for the company. Barclays upped their price target on shares of Innovex International from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Finally, Piper Sandler increased their price target on Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.50.
Get Our Latest Stock Report on Innovex International
Innovex International Trading Down 2.0%
Innovex International (NYSE:INVX – Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.05. Innovex International had a net margin of 6.17% and a return on equity of 7.12%. The company had revenue of $244.90 million for the quarter, compared to the consensus estimate of $241.58 million. Sell-side analysts anticipate that Innovex International will post 1.44 EPS for the current year.
Insider Buying and Selling at Innovex International
In other Innovex International news, Director Amberjack Capital Partners, L. sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $28.71, for a total value of $143,550,000.00. Following the sale, the director owned 311 shares in the company, valued at approximately $8,928.81. This represents a 99.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark Reddout sold 10,750 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $28.00, for a total transaction of $301,000.00. Following the sale, the insider directly owned 134,312 shares in the company, valued at $3,760,736. The trade was a 7.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 9,975,217 shares of company stock valued at $286,393,748. 34.90% of the stock is owned by company insiders.
Institutional Investors Weigh In On Innovex International
A number of institutional investors have recently modified their holdings of INVX. Freestone Grove Partners LP acquired a new stake in Innovex International in the 2nd quarter worth about $43,000. Strs Ohio acquired a new position in shares of Innovex International during the fourth quarter valued at approximately $44,000. USA Financial Formulas purchased a new position in shares of Innovex International in the first quarter valued at approximately $53,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Innovex International in the fourth quarter valued at approximately $55,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Innovex International by 418.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock worth $55,000 after acquiring an additional 2,843 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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