Innovex International, Inc. (NYSE:INVX) Receives $25.50 Average Price Target from Brokerages

Innovex International, Inc. (NYSE:INVX) has earned a consensus recommendation of “Hold” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $25.50.

A number of research firms have commented on INVX. Zacks Research cut Innovex International from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Weiss Ratings cut Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 27th. Finally, Barclays lifted their target price on 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 Price Performance

NYSE:INVX opened at $28.09 on Friday. The company has a quick ratio of 3.24, a current ratio of 4.91 and a debt-to-equity ratio of 0.02. The business’s 50-day simple moving average is $25.78 and its two-hundred day simple moving average is $23.56. The stock has a market cap of $1.93 billion, a PE ratio of 23.41 and a beta of 0.75. Innovex International has a 52 week low of $11.93 and a 52 week high of $29.48.

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 business had revenue of $273.60 million for the quarter, compared to the consensus estimate of $240.00 million. Innovex International had a net margin of 8.52% and a return on equity of 6.55%. As a group, analysts forecast that Innovex International will post 1.32 EPS for the current fiscal year.

Insider Transactions at Innovex International

In other news, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of Innovex International stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $24.59, for a total value of $162,601,375.00. Following the sale, 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. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amberjack Capital Partners, L. sold 6,612,500 shares of Innovex International stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $24.59, for a total value of $162,601,375.00. Following the completion of the sale, the director directly owned 399 shares in the company, valued at $9,811.41. This trade represents a 99.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 13,257,078 shares of company stock valued at $326,097,112. 34.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Innovex International

Several large investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its position in Innovex International by 31.2% in the third quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock worth $40,000 after acquiring an additional 511 shares in the last quarter. Lesa Sroufe & Co grew its position in Innovex International by 0.5% in the third quarter. Lesa Sroufe & Co now owns 114,980 shares of the company’s stock worth $2,132,000 after acquiring an additional 561 shares in the last quarter. Arizona State Retirement System grew its position in Innovex International by 10.9% in the third quarter. Arizona State Retirement System now owns 11,226 shares of the company’s stock worth $208,000 after acquiring an additional 1,104 shares in the last quarter. Covestor Ltd grew its position in Innovex International by 77.7% in the fourth quarter. Covestor Ltd now owns 3,284 shares of the company’s stock worth $72,000 after acquiring an additional 1,436 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Innovex International by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock worth $379,000 after acquiring an additional 1,467 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.