Analysts Set Innovex International, Inc. (NYSE:INVX) Price Target at $25.50

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

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

Insider Activity

In other Innovex International news, CEO Adam Anderson sold 18,837 shares of Innovex International stock in a transaction dated Tuesday, February 24th. The shares were 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 directly owned 466,744 shares of the company’s stock, valued at approximately $13,302,204. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Reddout sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $25.00, for a total transaction of $500,000.00. Following the completion of the transaction, the insider owned 129,436 shares in the company, valued at approximately $3,235,900. This represents a 13.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 13,290,319 shares of company stock worth $326,928,137. 43.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Innovex International

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in Innovex International by 52.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock valued at $45,141,000 after acquiring an additional 837,027 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Innovex International during the fourth quarter valued at $12,702,000. Brandes Investment Partners LP boosted its position in shares of Innovex International by 7.7% during the second quarter. Brandes Investment Partners LP now owns 7,054,674 shares of the company’s stock valued at $110,194,000 after buying an additional 504,935 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in shares of Innovex International by 371.9% during the second quarter. Bridgeway Capital Management LLC now owns 344,178 shares of the company’s stock valued at $5,376,000 after buying an additional 271,247 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC bought a new stake in Innovex International in the 4th quarter worth about $5,821,000.

Innovex International Stock Up 1.8%

NYSE:INVX opened at $27.40 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.91 and a quick ratio of 3.24. The firm’s 50-day moving average price is $24.93 and its 200-day moving average price is $21.54. The company has a market capitalization of $1.89 billion, a PE ratio of 22.83 and a beta of 0.72. Innovex International has a 1-year low of $11.93 and a 1-year high of $29.48.

Innovex International (NYSE:INVX) last issued 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 business had revenue of $273.60 million for the quarter, compared to analysts’ expectations of $240.00 million. Innovex International had a net margin of 8.52% and a return on equity of 6.55%.

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.