Innovex International (NYSE:INVX) Research Coverage Started at Piper Sandler

Piper Sandler initiated coverage on shares of Innovex International (NYSE:INVX) in a research report sent to investors on Tuesday morning, MarketBeat reports. The firm issued an overweight rating and a $20.00 price objective on the stock.

Several other equities research analysts have also commented on the stock. Johnson Rice upgraded shares of Innovex International to a “strong-buy” rating in a research report on Friday, May 30th. Wall Street Zen cut Innovex International from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Finally, Barclays dropped their price objective on Innovex International from $16.00 to $13.00 and set an “underweight” rating for the company in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Innovex International Stock Performance

NYSE:INVX opened at $15.85 on Tuesday. Innovex International has a 1-year low of $11.93 and a 1-year high of $19.42. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 6.05 and a beta of 0.82. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.34 and a quick ratio of 2.49. The firm’s fifty day moving average price is $15.44 and its 200 day moving average price is $16.09.

Innovex International (NYSE:INVX) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). Innovex International had a net margin of 16.68% and a return on equity of 7.14%. The business had revenue of $240.42 million during the quarter, compared to analysts’ expectations of $247.73 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INVX. Vanguard Group Inc. increased its stake in Innovex International by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 4,306,348 shares of the company’s stock worth $77,342,000 after buying an additional 43,343 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Innovex International by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,940,375 shares of the company’s stock worth $27,107,000 after acquiring an additional 27,726 shares during the last quarter. Madison Avenue Partners LP boosted its position in Innovex International by 64.6% during the 4th quarter. Madison Avenue Partners LP now owns 1,686,476 shares of the company’s stock valued at $23,560,000 after purchasing an additional 662,009 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Innovex International by 1.9% during the fourth quarter. William Blair Investment Management LLC now owns 1,345,885 shares of the company’s stock valued at $18,802,000 after acquiring an additional 24,944 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Innovex International by 755.9% during the 1st quarter. Wellington Management Group LLP now owns 1,020,266 shares of the company’s stock valued at $18,324,000 after purchasing an additional 901,066 shares during the period.

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.