Innovex International (NYSE:INVX) Upgraded by Jefferies Financial Group to “Strong-Buy” Rating

Jefferies Financial Group upgraded shares of Innovex International (NYSE:INVX) to a strong-buy rating in a research report released on Friday,Zacks.com reports.

INVX has been the topic of a number of other research reports. Weiss Ratings downgraded shares of Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Zacks Research raised shares of Innovex International from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Wall Street Zen raised shares of Innovex International from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Citigroup initiated coverage on shares of Innovex International in a report on Thursday, May 7th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Barclays lifted their price target on shares of Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.25.

Innovex International Stock Performance

INVX opened at $29.50 on Friday. The company has a current ratio of 5.10, a quick ratio of 3.38 and a debt-to-equity ratio of 0.02. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 39.33 and a beta of 0.82. The company’s 50 day moving average is $27.51 and its 200 day moving average is $25.39. Innovex International has a 12-month low of $14.65 and a 12-month high of $32.25.

Insider Activity at Innovex International

In related news, insider Mark Reddout sold 10,750 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $28.00, for a total transaction of $301,000.00. Following the completion of the transaction, the insider owned 134,312 shares in the company, valued at approximately $3,760,736. This represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 34.90% of the company’s stock.

Hedge Funds Weigh In On Innovex International

A number of hedge funds and other institutional investors have recently modified their holdings of INVX. Smartleaf Asset Management LLC boosted its position in shares of Innovex International by 31.2% during the third quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock worth $40,000 after acquiring an additional 511 shares during the last quarter. Strs Ohio bought a new position in shares of Innovex International during the fourth quarter worth $44,000. Aster Capital Management DIFC Ltd bought a new position in shares of Innovex International during the fourth quarter worth $55,000. Tower Research Capital LLC TRC boosted its position in shares of Innovex International by 418.1% during 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. Finally, Covestor Ltd boosted its position in shares of Innovex International by 77.7% during the fourth quarter. Covestor Ltd now owns 3,284 shares of the company’s stock worth $72,000 after acquiring an additional 1,436 shares during the last quarter.

Innovex International Company Profile

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.