Innovex International, Inc. (NYSE:INVX) Receives Average Recommendation of “Buy” from Brokerages

Innovex International, Inc. (NYSE:INVX) has earned a consensus rating of “Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $32.25.

A number of brokerages recently commented on INVX. Jefferies Financial Group raised Innovex International to a “strong-buy” rating in a research report on Friday, June 12th. Weiss Ratings lowered Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Barclays boosted their price target on shares of Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of Innovex International from a “hold” rating to a “buy” rating in a report on Monday, June 22nd. Finally, Citigroup assumed coverage on shares of Innovex International in a research report on Thursday, May 7th. They issued a “buy” rating and a $35.00 price objective on the stock.

Insider Buying and Selling

In other news, insider Mark Reddout sold 10,750 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $28.00, for a total value of $301,000.00. Following the transaction, the insider owned 134,312 shares of the company’s stock, valued at approximately $3,760,736. This represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 34.90% of the company’s stock.

Hedge Funds Weigh In On Innovex International

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new position in shares of Innovex International in the 4th quarter worth $44,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Innovex International during the 4th quarter worth $55,000. Tower Research Capital LLC TRC grew its position in Innovex International by 418.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock worth $55,000 after acquiring an additional 2,843 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, Global Retirement Partners LLC bought a new position in Innovex International in the fourth quarter valued at $103,000.

Innovex International Price Performance

Innovex International stock opened at $25.11 on Thursday. Innovex International has a 52 week low of $14.65 and a 52 week high of $32.25. The company’s 50 day moving average price is $27.18 and its two-hundred day moving average price is $25.74. The stock has a market cap of $1.73 billion, a P/E ratio of 33.48 and a beta of 0.83. The company has a quick ratio of 3.38, a current ratio of 5.10 and a debt-to-equity ratio of 0.02.

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.