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

Innovex International, Inc. (NYSE:INVX) has received an average recommendation of “Hold” from the five research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $25.50.

A number of brokerages have issued reports on INVX. Piper Sandler lifted their price target on Innovex International from $20.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Zacks Research downgraded Innovex International from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Weiss Ratings lowered Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 27th. Finally, Barclays boosted their target price 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.

Innovex International Price Performance

Shares of INVX opened at $24.50 on Tuesday. Innovex International has a twelve month low of $11.93 and a twelve month high of $29.48. The firm’s fifty day simple moving average is $25.38 and its 200-day simple moving average is $22.51. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 20.42 and a beta of 0.75. The company has a current ratio of 4.91, a quick ratio of 3.24 and a debt-to-equity ratio of 0.02.

Innovex International (NYSE:INVX) last released its quarterly earnings data on Monday, February 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.09). The firm had revenue of $273.60 million for the quarter, compared to analysts’ expectations 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 related news, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $24.59, for a total value 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 trade represents a 99.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Amberjack Capital Partners, L. sold 6,612,500 shares of Innovex International 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 sale, the director owned 399 shares in the company, valued at $9,811.41. This represents a 99.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,290,319 shares of company stock worth $326,928,137 in the last ninety days. Company insiders own 43.90% of the company’s stock.

Institutional Investors Weigh In On Innovex International

A number of institutional investors and hedge funds have recently bought and sold shares of INVX. Covestor Ltd lifted its holdings in shares of Innovex International by 26,300.0% in the 3rd quarter. Covestor Ltd now owns 1,848 shares of the company’s stock valued at $34,000 after purchasing an additional 1,841 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Innovex International by 31.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock worth $40,000 after buying an additional 511 shares during the last quarter. Strs Ohio purchased a new position in Innovex International during the 4th quarter worth approximately $44,000. Westfuller Advisors LLC acquired a new position in Innovex International during the third quarter worth approximately $53,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Innovex International during the fourth quarter worth approximately $55,000.

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.