Barclays Issues Positive Forecast for Innovex International (NYSE:INVX) Stock Price

Innovex International (NYSE:INVX) had its target price hoisted by Barclays from $15.00 to $16.00 in a report issued on Wednesday,Benzinga reports. Barclays currently has an underweight rating on the stock.

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

Innovex International Stock Performance

NYSE INVX opened at $17.56 on Wednesday. Innovex International has a one year low of $12.54 and a one year high of $25.19. The firm has a 50 day simple moving average of $16.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.87 and a quick ratio of 2.17. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 12.45 and a beta of 0.89.

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

Insider Buying and Selling at Innovex International

In related news, CFO Kendal Reed purchased 3,765 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $13.28 per share, with a total value of $49,999.20. Following the completion of the transaction, the chief financial officer now owns 186,232 shares of the company’s stock, valued at $2,473,160.96. This represents a 2.06 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of Innovex International

A number of hedge funds have recently made changes to their positions in the stock. Brandes Investment Partners LP grew its position in shares of Innovex International by 41.3% during the fourth quarter. Brandes Investment Partners LP now owns 6,304,068 shares of the company’s stock worth $88,068,000 after buying an additional 1,841,686 shares in the last quarter. Vanguard Group Inc. lifted its stake in Innovex International by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 4,263,005 shares of the company’s stock worth $59,554,000 after purchasing an additional 221,598 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Innovex International by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,940,375 shares of the company’s stock worth $27,107,000 after purchasing an additional 27,726 shares during the last quarter. Madison Avenue Partners LP lifted its stake in Innovex International by 64.6% during the fourth quarter. Madison Avenue Partners LP now owns 1,686,476 shares of the company’s stock worth $23,560,000 after purchasing an additional 662,009 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its stake in Innovex International by 1.9% during the fourth quarter. William Blair Investment Management LLC now owns 1,345,885 shares of the company’s stock worth $18,802,000 after purchasing an additional 24,944 shares during 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.