Wall Street Zen Upgrades Innovex International (NYSE:INVX) to “Buy”

Innovex International (NYSE:INVX) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other research firms have also recently issued reports on INVX. Piper Sandler raised their target price on shares of Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Barclays upped their price target on shares of Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Weiss Ratings downgraded shares of Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Citigroup began coverage on shares of Innovex International in a research note on Thursday, May 7th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Jefferies Financial Group upgraded shares of Innovex International to a “strong-buy” rating in a report on Friday, June 12th. Three equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $32.25.

Innovex International Stock Down 0.7%

INVX opened at $25.39 on Monday. Innovex International has a 12 month low of $14.65 and a 12 month high of $32.25. The business has a 50-day moving average of $27.65 and a two-hundred day moving average of $25.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.10 and a quick ratio of 3.38. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 33.85 and a beta of 0.82.

Insiders Place Their Bets

In other Innovex International news, insider Mark Reddout sold 10,750 shares of Innovex International stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $28.00, for a total transaction of $301,000.00. Following the transaction, the insider directly owned 134,312 shares of the company’s stock, valued at $3,760,736. The trade was a 7.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 34.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Innovex International

Several large investors have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new position in shares of Innovex International in the 1st quarter valued at $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Innovex International by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock worth $379,000 after purchasing an additional 1,467 shares during the period. Caxton Associates LLP purchased a new stake in Innovex International during the 1st quarter worth $270,000. Empowered Funds LLC increased its holdings in Innovex International by 8.2% in the 1st quarter. Empowered Funds LLC now owns 58,131 shares of the company’s stock valued at $1,044,000 after purchasing an additional 4,386 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Innovex International by 11.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,225 shares of the company’s stock valued at $1,764,000 after purchasing an additional 10,401 shares in the last quarter.

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.