Innovex International (NYSE:INVX) Reaches New 52-Week High – Should You Buy?

Innovex International, Inc. (NYSE:INVX)’s stock price hit a new 52-week high during mid-day trading on Saturday . The stock traded as high as $22.48 and last traded at $22.0770, with a volume of 772624 shares changing hands. The stock had previously closed at $20.43.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Innovex International in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Innovex International has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Innovex International Stock Performance

The firm has a fifty day moving average price of $18.69 and a 200 day moving average price of $16.87. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.60 and a quick ratio of 2.69. The firm has a market capitalization of $1.52 billion, a PE ratio of 7.64 and a beta of 0.77.

Innovex International (NYSE:INVX) last released its quarterly earnings results on Wednesday, February 23rd. The company reported ($0.12) earnings per share for the quarter. Innovex International had a net margin of 16.66% and a return on equity of 8.58%. The business had revenue of $87.23 million for the quarter.

Institutional Trading of Innovex International

A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in shares of Innovex International by 20.4% in the 1st quarter. Bank of New York Mellon Corp now owns 312,768 shares of the company’s stock valued at $5,617,000 after purchasing an additional 53,022 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Innovex International by 29.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 37,883 shares of the company’s stock valued at $680,000 after purchasing an additional 8,507 shares during the period. New York State Common Retirement Fund increased its stake in shares of Innovex International by 5.5% in the first quarter. New York State Common Retirement Fund now owns 53,785 shares of the company’s stock worth $966,000 after purchasing an additional 2,800 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Innovex International during the first quarter worth about $251,000. Finally, US Bancorp DE grew its position in Innovex International by 234.0% during the first quarter. US Bancorp DE now owns 1,533 shares of the company’s stock valued at $28,000 after acquiring an additional 1,074 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.