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

Shares of Innovex International, Inc. (NYSE:INVX) have earned a consensus recommendation of “Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $32.25.

Several analysts have recently commented on INVX shares. Piper Sandler increased their price objective on Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Barclays boosted their target price on Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Zacks Research raised shares of Innovex International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 16th. Citigroup started coverage on Innovex International in a research note on Thursday, May 7th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Wall Street Zen raised Innovex International from a “hold” rating to a “buy” rating in a report on Monday, June 22nd.

Innovex International Price Performance

Shares of INVX opened at $25.90 on Thursday. The company has a 50 day moving average of $26.97 and a two-hundred day moving average of $25.86. The company has a quick ratio of 3.38, a current ratio of 5.10 and a debt-to-equity ratio of 0.02. Innovex International has a twelve month low of $14.65 and a twelve month high of $32.25. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 34.53 and a beta of 0.83.

Insider Transactions at Innovex International

In other Innovex International news, insider Mark Reddout sold 10,750 shares of the firm’s 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 completion of the transaction, the insider directly owned 134,312 shares of the company’s stock, valued at approximately $3,760,736. This trade represents a 7.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 34.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in INVX. Strs Ohio acquired a new stake in Innovex International during the 4th quarter worth about $44,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Innovex International in the fourth quarter worth about $55,000. Tower Research Capital LLC TRC grew its holdings in Innovex International by 418.1% during 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 during the period. Covestor Ltd raised its position in Innovex International by 77.7% during the fourth quarter. Covestor Ltd now owns 3,284 shares of the company’s stock valued at $72,000 after acquiring an additional 1,436 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new position in Innovex International during the fourth quarter valued at approximately $103,000.

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.