Innovex International, Inc. (NYSE:INVX) Given Average Recommendation of “Moderate Buy” by Analysts

Innovex International, Inc. (NYSE:INVX) has received an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $32.25.

A number of equities analysts recently issued reports on INVX shares. Piper Sandler raised their price target on Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Citigroup started coverage on Innovex International in a report on Thursday, May 7th. They set a “buy” rating and a $35.00 price target on the stock. Wall Street Zen lowered Innovex International from a “buy” rating to a “hold” rating in a report on Sunday. Weiss Ratings lowered Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Barclays lifted their price objective on Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, May 8th.

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 stock was sold at an average price of $28.00, for a total value of $301,000.00. Following the sale, the insider owned 134,312 shares of the company’s stock, valued at approximately $3,760,736. The trade was a 7.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 34.90% of the company’s stock.

Institutional Investors Weigh In On Innovex International

Institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted its holdings in Innovex International by 31.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock valued at $40,000 after purchasing an additional 511 shares in the last quarter. Strs Ohio purchased a new stake in Innovex International in the 4th quarter valued at approximately $44,000. Aster Capital Management DIFC Ltd purchased a new stake in Innovex International in the 4th quarter valued at approximately $55,000. Tower Research Capital LLC TRC boosted its holdings in Innovex International by 418.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock valued at $55,000 after purchasing an additional 2,843 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in Innovex International by 77.7% in the 4th quarter. Covestor Ltd now owns 3,284 shares of the company’s stock valued at $72,000 after purchasing an additional 1,436 shares in the last quarter.

Innovex International Stock Performance

NYSE INVX opened at $29.50 on Friday. 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 52-week low of $14.65 and a 52-week high of $32.25. The business’s 50-day moving average price is $27.51 and its 200 day moving average price is $25.39. The firm has a market cap of $2.03 billion, a P/E ratio of 39.33 and a beta of 0.82.

About Innovex International

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.