Innovex International (NYSE:INVX) Price Target Raised to $26.00

by · The Cerbat Gem

Innovex International (NYSE:INVX – Free Report) had its price objective raised by Barclays from $24.00 to $26.00 in a research report report published on Friday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other analysts have also recently commented on the stock. Citigroup assumed coverage on shares of Innovex International in a research note on Thursday. They issued a “buy” rating and a $35.00 price target for the company. Weiss Ratings cut shares of Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 27th. Finally, Zacks Research cut shares of Innovex International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.33.

Read Our Latest Analysis on Innovex International

Innovex International Stock Performance

Shares of INVX opened at $26.59 on Friday. Innovex International has a 12 month low of $13.44 and a 12 month high of $29.48. The firm has a fifty day simple moving average of $25.94 and a 200 day simple moving average of $23.97. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 35.46 and a beta of 0.84. The company has a current ratio of 5.10, a quick ratio of 3.38 and a debt-to-equity ratio of 0.02.

Innovex International (NYSE:INVX – Get Free Report) last announced its quarterly earnings results on Monday, February 23rd. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.09). The firm had revenue of $273.60 million during the quarter, compared to analyst estimates of $240.00 million. Innovex International had a net margin of 5.31% and a return on equity of 6.72%. Research analysts forecast that Innovex International will post 1.32 EPS for the current fiscal year.

Insider Buying and Selling at Innovex International

In other news, CEO Adam Anderson sold 18,837 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $28.50, for a total transaction of $536,854.50. Following the completion of the sale, the chief executive officer owned 466,744 shares in the company, valued at approximately $13,302,204. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Amberjack Capital Partners, L. sold 6,612,500 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the sale, the director owned 399 shares of the company’s stock, valued at approximately $9,811.41. This represents a 99.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 13,257,078 shares of company stock worth $326,097,112 over the last quarter. 34.90% of the stock is currently owned by insiders.

Institutional Trading of Innovex International

A number of hedge funds have recently modified their holdings of INVX. Covestor Ltd increased its position in Innovex International by 26,300.0% during the third quarter. Covestor Ltd now owns 1,848 shares of the company’s stock worth $34,000 after acquiring an additional 1,841 shares during the period. Smartleaf Asset Management LLC increased its position in Innovex International by 31.2% during the third quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock worth $40,000 after acquiring an additional 511 shares during the period. Strs Ohio bought a new position in Innovex International during the fourth quarter worth about $44,000. Westfuller Advisors LLC bought a new position in Innovex International during the third quarter worth about $53,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Innovex International during the fourth quarter worth about $55,000.

Innovex International Company Profile

(Get Free Report)

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.

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