Innovex International (NYSE:INVX) Cut to Hold at Wall Street Zen

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

A number of other research analysts have also weighed in on the stock. Jefferies Financial Group raised shares of Innovex International to a “strong-buy” rating in a research note on Friday. Piper Sandler lifted their price target on shares of Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Weiss Ratings lowered shares of Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Barclays lifted their price target on shares of Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, Zacks Research raised shares of Innovex International from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.25.

Innovex International Price Performance

Shares of INVX opened at $29.50 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.38 and a current ratio of 5.10. The business’s 50-day moving average is $27.51 and its two-hundred day moving average is $25.39. Innovex International has a fifty-two week low of $14.65 and a fifty-two week high of $32.25. The company has a market capitalization of $2.03 billion, a P/E ratio of 39.33 and a beta of 0.82.

Insider Activity at Innovex International

In other Innovex International news, insider Mark Reddout sold 10,750 shares of the business’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 completion of the transaction, the insider owned 134,312 shares in the company, valued at $3,760,736. The trade was a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 34.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Innovex International

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

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.