Innovex International (NYSE:INVX) Given New $24.00 Price Target at Barclays

Innovex International (NYSE:INVX) had its price objective increased by Barclays from $20.00 to $24.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other equities research analysts also recently weighed in on INVX. Weiss Ratings downgraded shares of Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Piper Sandler increased their target price on Innovex International from $20.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.50.

Innovex International Stock Down 3.2%

INVX stock opened at $25.69 on Tuesday. The business has a 50 day moving average of $24.64 and a 200 day moving average of $21.31. The firm has a market cap of $1.78 billion, a PE ratio of 21.41 and a beta of 0.72. Innovex International has a twelve month low of $11.93 and a twelve month high of $29.48. The company has a quick ratio of 3.24, a current ratio of 4.91 and a debt-to-equity ratio of 0.02.

Innovex International (NYSE:INVX) last announced its quarterly earnings results on Monday, February 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.09). The firm 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 at Innovex International

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

Institutional Investors Weigh In On Innovex International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dean Capital Management lifted its stake in shares of Innovex International by 2.7% in the 4th quarter. Dean Capital Management now owns 143,490 shares of the company’s stock worth $3,138,000 after purchasing an additional 3,834 shares during the period. Invesco Ltd. grew its position in Innovex International by 8.8% during the fourth quarter. Invesco Ltd. now owns 374,633 shares of the company’s stock valued at $8,193,000 after buying an additional 30,451 shares during the period. XTX Topco Ltd purchased a new stake in Innovex International during the fourth quarter valued at approximately $294,000. Millennium Management LLC bought a new position in Innovex International in the fourth quarter worth approximately $600,000. Finally, Gotham Asset Management LLC purchased a new position in shares of Innovex International during the 4th quarter worth $680,000.

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.