Innovex International (NYSE:INVX) Stock Price Expected to Rise, Barclays Analyst Says

Innovex International (NYSE:INVX) had its price target upped by research analysts at Barclays from $15.00 to $16.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s price objective suggests a potential downside of 9.25% from the company’s previous close.

Separately, Pickering Energy Partners upgraded Innovex International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th.

Innovex International Trading Up 0.3 %

Innovex International stock opened at $17.63 on Wednesday. The company has a current ratio of 3.87, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01. Innovex International has a 12 month low of $12.54 and a 12 month high of $25.19. The stock has a 50 day moving average of $16.24. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 12.50 and a beta of 0.89.

Innovex International (NYSE:INVX) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.26 by $0.21. Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%. The business had revenue of $250.69 million for the quarter.

Insider Activity

In other news, CFO Kendal Reed acquired 3,765 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were bought at an average price of $13.28 per share, for a total transaction of $49,999.20. Following the acquisition, the chief financial officer now owns 186,232 shares of the company’s stock, valued at approximately $2,473,160.96. This trade represents a 2.06 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new position in Innovex International in the 4th quarter valued at $63,000. KLP Kapitalforvaltning AS purchased a new position in Innovex International in the 4th quarter valued at $88,000. Oregon Public Employees Retirement Fund lifted its holdings in Innovex International by 9.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,852 shares of the company’s stock valued at $124,000 after purchasing an additional 758 shares in the last quarter. Aigen Investment Management LP purchased a new position in Innovex International in the 4th quarter valued at $142,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Innovex International in the 4th quarter worth $145,000.

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.