Innovex International, Inc. (NYSE:INVX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Innovex International, Inc. (NYSE:INVX) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $32.75.

Several brokerages recently issued reports on INVX. Wall Street Zen lowered shares of Innovex International from a “buy” rating to a “hold” rating in a research report on Monday, August 17th. Barclays lifted their price target on Innovex International from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Jefferies Financial Group upgraded Innovex International to a “strong-buy” rating in a research report on Friday, June 12th. Finally, Zacks Research cut Innovex International from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th.

Insiders Place Their Bets

In other Innovex International news, insider Mark Reddout sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the insider directly owned 124,312 shares in the company, valued at $3,729,360. This trade represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Co-Invest Fund L.P. Innovex sold 4,954,467 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $28.71, for a total transaction 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,964,467 shares of company stock valued at $286,092,748 over the last quarter. 34.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Innovex International

Several institutional investors and hedge funds have recently made changes to their positions in INVX. BlackRock Inc. bought a new stake in Innovex International in the second quarter worth $160,389,000. Dimensional Fund Advisors LP boosted its position in Innovex International by 14.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,646,376 shares of the company’s stock valued at $64,544,000 after buying an additional 335,839 shares during the period. Wellington Management Group LLP grew its stake in shares of Innovex International by 52.4% during the third quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock valued at $45,141,000 after buying an additional 837,027 shares during the last quarter. State Street Corp grew its stake in shares of Innovex International by 0.7% during the fourth quarter. State Street Corp now owns 1,601,149 shares of the company’s stock valued at $35,017,000 after buying an additional 11,160 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of Innovex International by 3,435.6% in the second quarter. California State Teachers Retirement System now owns 1,232,535 shares of the company’s stock worth $30,567,000 after buying an additional 1,197,674 shares during the period.

Innovex International Price Performance

INVX stock opened at $30.67 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.01 and a quick ratio of 3.32. Innovex International has a one year low of $16.29 and a one year high of $33.71. The stock has a market cap of $2.15 billion, a PE ratio of 34.46 and a beta of 0.87. The firm has a 50 day simple moving average of $27.64 and a two-hundred day simple moving average of $27.01.

Innovex International (NYSE:INVX) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. The firm had revenue of $244.90 million for the quarter, compared to analyst estimates of $241.58 million. Innovex International had a net margin of 6.17% and a return on equity of 7.12%. On average, analysts predict that Innovex International will post 1.44 EPS for the current fiscal year.

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.