Shares of Innovex International, Inc. (NYSE:INVX – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $32.75.
INVX has been the topic of several recent research reports. Citigroup boosted their price objective on shares of Innovex International from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. 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. Zacks Research downgraded shares of Innovex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Wall Street Zen lowered Innovex International from a “buy” rating to a “hold” rating in a research note on Monday, August 17th. Finally, Weiss Ratings upgraded Innovex International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th.
View Our Latest Analysis on INVX
Innovex International Stock Performance
NYSE INVX traded up $0.60 during trading hours on Friday, hitting $27.99. The company had a trading volume of 373,009 shares, compared to its average volume of 721,498. The business has a 50 day moving average of $29.05 and a 200-day moving average of $27.62. The company has a market cap of $1.96 billion, a PE ratio of 31.45 and a beta of 0.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.32 and a current ratio of 5.01. Innovex International has a 1-year low of $17.46 and a 1-year high of $33.71.
Innovex International (NYSE:INVX – Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.31 by $0.05. The company had revenue of $244.90 million for the quarter, compared to analyst estimates of $241.58 million. Innovex International had a return on equity of 7.12% and a net margin of 6.17%. As a group, equities research analysts expect that Innovex International will post 1.44 EPS for the current year.
Insider Activity at Innovex International
In other Innovex International news, Director Co-Invest Fund L.P. Innovex sold 4,954,467 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $28.71, for a total value of $142,242,747.57. Following the transaction, the director owned 311 shares in the company, valued at $8,928.81. The trade was a 99.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Amberjack Capital Partners, L. sold 5,000,000 shares of Innovex International 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 $8,928.81. This represents a 99.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 9,964,467 shares of company stock worth $286,092,748. Corporate insiders own 34.90% of the company’s stock.
Institutional Investors Weigh In On Innovex International
Several hedge funds and other institutional investors have recently modified their holdings of INVX. BlackRock Inc. bought a new position in shares of Innovex International during the second quarter worth about $160,389,000. Bank of America Corp DE acquired a new stake in Innovex International during the second quarter valued at approximately $16,540,000. William Blair Investment Management LLC bought a new position in Innovex International during the 2nd quarter worth approximately $11,492,000. Heartland Advisors Inc. bought a new position in Innovex International during the 2nd quarter worth approximately $11,020,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Innovex International by 14.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,646,376 shares of the company’s stock worth $64,544,000 after buying an additional 335,839 shares during the last quarter.
Innovex International Company Profile
Innovex International, Inc (NYSE: INVX) is an oilfield technology company that develops and supplies equipment and services used throughout the life cycle of oil and natural gas wells. Its offerings support drilling, well completion, production, intervention and related downhole operations for exploration and production companies and oilfield service providers.
The company’s product portfolio includes technologies for well construction and tubular handling, completion systems, production equipment and intervention applications.
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