Innovex International (NYSE:INVX) Stock Rating Lowered by 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 Saturday.

Several other research analysts also recently weighed in on INVX. Jefferies Financial Group upgraded shares of Innovex International to a “strong-buy” rating in a research note on Friday, June 12th. Zacks Research downgraded shares of Innovex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Piper Sandler boosted 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. Citigroup assumed coverage on shares of Innovex International in a research report on Thursday, May 7th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Weiss Ratings downgraded Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.25.

Innovex International Stock Up 0.3%

Shares of NYSE:INVX opened at $28.16 on Friday. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 37.54 and a beta of 0.83. The company has a 50 day moving average of $26.43 and a two-hundred day moving average of $26.17. Innovex International has a 52-week low of $15.54 and a 52-week high of $32.25. The company has a quick ratio of 3.38, a current ratio of 5.10 and a debt-to-equity ratio of 0.02.

Insider Activity at Innovex International

In other news, insider Mark Reddout sold 10,750 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was 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 represents a 7.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 34.90% of the company’s stock.

Institutional Trading of Innovex International

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

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.