Innovex International, Inc. (NYSE:INVX) Given Average Recommendation of “Hold” by Analysts

Shares of Innovex International, Inc. (NYSE:INVX) have been assigned an average recommendation of “Hold” from the five analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $25.50.

A number of analysts recently issued reports on INVX shares. Weiss Ratings cut Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 27th. Piper Sandler lifted their target price on Innovex International from $20.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Zacks Research cut Innovex International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 4th. Finally, Barclays increased their price target on shares of Innovex International from $20.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd.

Innovex International Trading Down 3.5%

Shares of INVX stock opened at $24.26 on Tuesday. The company’s fifty day simple moving average is $25.43 and its two-hundred day simple moving average is $22.43. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.91 and a quick ratio of 3.24. Innovex International has a 1 year low of $11.93 and a 1 year high of $29.48. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 20.22 and a beta of 0.72.

Innovex International (NYSE:INVX) last posted its quarterly earnings results on Monday, February 23rd. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.09). The company had revenue of $273.60 million during the quarter, compared to the consensus estimate of $240.00 million. Innovex International had a return on equity of 6.55% and a net margin of 8.52%.

Insider Activity

In other Innovex International news, CEO Adam Anderson sold 18,837 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $28.50, for a total value of $536,854.50. Following the sale, the chief executive officer directly owned 466,744 shares in the company, valued at $13,302,204. This represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amberjack Capital Partners, L. sold 6,612,500 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the completion of the transaction, the director directly owned 399 shares of the company’s stock, valued at approximately $9,811.41. The trade was a 99.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 13,290,319 shares of company stock worth $326,928,137. Insiders own 43.90% of the company’s stock.

Institutional Investors Weigh In On Innovex International

Large investors have recently added to or reduced their stakes in the business. Heartland Advisors Inc. bought a new position in shares of Innovex International in the third quarter worth approximately $3,708,000. Brandes Investment Partners LP raised its stake in 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 purchasing an additional 504,935 shares in the last quarter. Geode Capital Management LLC lifted its position in Innovex International by 5.2% during the second quarter. Geode Capital Management LLC now owns 922,305 shares of the company’s stock valued at $14,408,000 after purchasing an additional 45,174 shares during the last quarter. Fisher Asset Management LLC lifted its position in Innovex International by 69.0% during the third quarter. Fisher Asset Management LLC now owns 228,887 shares of the company’s stock valued at $4,244,000 after purchasing an additional 93,412 shares during the last quarter. Finally, Citigroup Inc. grew its stake in Innovex International by 79.8% in the 3rd quarter. Citigroup Inc. now owns 197,020 shares of the company’s stock worth $3,653,000 after buying an additional 87,458 shares in 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.