Innovex International (NYSE:INVX) Reaches New 12-Month High – Still a Buy?

Innovex International, Inc. (NYSE:INVX)’s share price hit a new 52-week high on Monday . The stock traded as high as $24.34 and last traded at $23.5650, with a volume of 219599 shares trading hands. The stock had previously closed at $22.78.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Innovex International in a report on Monday, December 29th. Piper Sandler boosted their price objective on Innovex International from $20.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $20.00.

Innovex International Trading Up 4.5%

The company has a current ratio of 4.78, a quick ratio of 2.93 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $21.80 and a 200-day moving average price of $18.64. The firm has a market capitalization of $1.64 billion, a PE ratio of 16.19 and a beta of 0.74.

Innovex International (NYSE:INVX) last announced its quarterly earnings results on Wednesday, February 23rd. The company reported ($0.12) earnings per share (EPS) for the quarter. The business had revenue of $87.23 million during the quarter. Innovex International had a net margin of 10.59% and a return on equity of 8.51%.

Hedge Funds Weigh In On Innovex International

Several institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd raised its holdings in shares of Innovex International by 26,300.0% during the third quarter. Covestor Ltd now owns 1,848 shares of the company’s stock worth $34,000 after purchasing an additional 1,841 shares during the period. Smartleaf Asset Management LLC boosted 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 valued at $40,000 after purchasing an additional 511 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Innovex International by 150.3% during the second quarter. First Horizon Advisors Inc. now owns 3,367 shares of the company’s stock worth $53,000 after acquiring an additional 2,022 shares during the period. Westfuller Advisors LLC bought a new stake in shares of Innovex International in the 3rd quarter worth approximately $53,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Innovex International by 418.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock valued at $55,000 after acquiring an additional 2,843 shares during 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.