Innovex International, Inc. (NYSE:INVX) Receives Consensus Recommendation of “Buy” from Analysts

Innovex International, Inc. (NYSE:INVX) has been assigned a consensus rating of “Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $32.25.

Several research analysts recently issued reports on the stock. Piper Sandler increased their target price on shares of Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Zacks Research upgraded Innovex International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 16th. Jefferies Financial Group raised Innovex International to a “strong-buy” rating in a research note on Friday, June 12th. Barclays raised their price objective on Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Finally, Citigroup began coverage on Innovex International in a report on Thursday, May 7th. They issued a “buy” rating and a $35.00 target price on the stock.

Insider Activity

In other news, insider Mark Reddout sold 10,750 shares of Innovex International stock in a transaction dated 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 directly owned 134,312 shares in the company, valued at $3,760,736. This trade represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 34.90% of the stock is owned by corporate insiders.

Institutional Trading of Innovex International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INVX. Strs Ohio bought a new stake in Innovex International during the fourth quarter worth $44,000. Aster Capital Management DIFC Ltd bought a new position in Innovex International during the 4th quarter valued at $55,000. Covestor Ltd boosted its holdings in Innovex International by 77.7% during the 4th 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. Tower Research Capital LLC TRC grew its stake in shares of Innovex International by 418.1% in the 2nd 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 in the last quarter. Finally, Global Retirement Partners LLC bought a new stake in shares of Innovex International in the 4th quarter worth $103,000.

Innovex International Trading Up 4.4%

NYSE:INVX opened at $25.11 on Thursday. Innovex International has a 52 week low of $14.65 and a 52 week high of $32.25. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.38 and a current ratio of 5.10. The firm’s fifty day moving average is $27.18 and its 200-day moving average is $25.74. The firm has a market cap of $1.73 billion, a P/E ratio of 33.48 and a beta of 0.83.

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.