Innovex International (NYSE:INVX) Upgraded at Wall Street Zen

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 on Saturday.

Several other brokerages have also commented on INVX. Barclays raised their price objective 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. Weiss Ratings lowered shares of Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Piper Sandler raised their price objective on shares of Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Zacks Research upgraded shares of Innovex International from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Finally, Citigroup started coverage on shares of Innovex International in a report on Thursday, May 7th. They set a “buy” rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.67.

Innovex International Stock Performance

Shares of INVX opened at $26.70 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.10 and a quick ratio of 3.38. Innovex International has a one year low of $14.65 and a one year high of $32.25. The company has a 50-day simple moving average of $27.08 and a two-hundred day simple moving average of $25.15. The firm has a market capitalization of $1.84 billion, a PE ratio of 35.60 and a beta of 0.82.

Insider Activity

In other 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 completion of the transaction, the insider directly owned 134,312 shares in the company, valued at approximately $3,760,736. This trade represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 34.90% of the company’s stock.

Hedge Funds Weigh In On Innovex International

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new position in shares of Innovex International during the fourth quarter valued at approximately $12,702,000. Heartland Advisors Inc. purchased a new position in shares of Innovex International during the third quarter valued at approximately $3,708,000. Fisher Asset Management LLC raised its holdings in Innovex International by 69.0% in the 3rd quarter. Fisher Asset Management LLC now owns 228,887 shares of the company’s stock worth $4,244,000 after acquiring an additional 93,412 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in Innovex International in the 4th quarter worth approximately $919,000. Finally, Avidian Wealth Enterprises LLC purchased a new position in Innovex International in the 4th quarter worth approximately $5,821,000.

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.