Innovex International (NYSE:INVX) Sets New 1-Year High – What’s Next?

Innovex International, Inc. (NYSE:INVX) shares reached a new 52-week high on Monday . The company traded as high as $24.34 and last traded at $23.5650, with a volume of 219599 shares changing hands. The stock had previously closed at $22.78.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on INVX. Weiss Ratings restated a “buy (b-)” rating on shares of Innovex International in a research note on Monday, December 29th. Piper Sandler raised their price objective on shares of Innovex International from $20.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Two investment 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. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $20.00.

Innovex International Price Performance

The firm has a market capitalization of $1.64 billion, a PE ratio of 16.19 and a beta of 0.74. The firm’s fifty day simple moving average is $21.80 and its 200-day simple moving average is $18.64. The company has a quick ratio of 2.93, a current ratio of 4.78 and a debt-to-equity ratio of 0.02.

Innovex International (NYSE:INVX) last posted its quarterly earnings data on Wednesday, February 23rd. The company reported ($0.12) earnings per share (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 Trading of Innovex International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brandes Investment Partners LP raised its holdings in shares of Innovex International by 7.7% in the second quarter. Brandes Investment Partners LP now owns 7,054,674 shares of the company’s stock valued at $110,194,000 after acquiring an additional 504,935 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Innovex International by 52.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock valued at $45,141,000 after acquiring an additional 837,027 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Innovex International by 12.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,153,272 shares of the company’s stock worth $39,921,000 after purchasing an additional 230,393 shares during the last quarter. Geode Capital Management LLC lifted its stake in Innovex International by 5.2% during the 2nd quarter. Geode Capital Management LLC now owns 922,305 shares of the company’s stock valued at $14,408,000 after acquiring an additional 45,174 shares during the period. Finally, Investment Management Associates Inc. ADV raised its stake 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 valued at $10,007,000 after buying an additional 254,356 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.