Innovex International (NYSE:INVX) Reaches New 12-Month High – What’s Next?

Innovex International, Inc. (NYSE:INVX) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $23.38 and last traded at $23.3580, with a volume of 51555 shares trading hands. The stock had previously closed at $22.71.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Innovex International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Innovex International currently has a consensus rating of “Buy” and an average price target of $16.50.

Innovex International Stock Down 1.9%

The company has a market cap of $1.63 billion, a P/E ratio of 16.04 and a beta of 0.74. The business’s 50 day moving average price is $20.23 and its 200-day moving average price is $17.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.78 and a quick ratio of 2.93.

Innovex International (NYSE:INVX) last posted its quarterly earnings data on Wednesday, February 23rd. The company reported ($0.12) EPS for the quarter. Innovex International had a return on equity of 8.51% and a net margin of 10.59%.The business had revenue of $87.23 million during the quarter.

Institutional Investors Weigh In On Innovex International

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in Innovex International by 755.9% in the first quarter. Wellington Management Group LLP now owns 1,020,266 shares of the company’s stock valued at $18,324,000 after acquiring an additional 901,066 shares during the last quarter. Brandes Investment Partners LP boosted its position in shares of Innovex International by 7.7% in the 2nd quarter. Brandes Investment Partners LP now owns 7,054,674 shares of the company’s stock worth $110,194,000 after purchasing an additional 504,935 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Innovex International during the first quarter worth $7,089,000. Bridgeway Capital Management LLC increased its holdings in Innovex International by 371.9% in the second quarter. Bridgeway Capital Management LLC now owns 344,178 shares of the company’s stock valued at $5,376,000 after purchasing an additional 271,247 shares during the last quarter. Finally, Investment Management Associates Inc. ADV grew its position in shares of Innovex International by 65.8% during the 2nd quarter. Investment Management Associates Inc. ADV now owns 640,625 shares of the company’s stock worth $10,007,000 after buying an additional 254,356 shares during the period.

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.