Barclays Has Lowered Expectations for Innovex International (NYSE:INVX) Stock Price

Innovex International (NYSE:INVX - Get Free Report) had its target price decreased by investment analysts at Barclays from $16.00 to $13.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Barclays's target price indicates a potential downside of 13.33% from the stock's current price.

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 Stock Up 1.0%

Shares of NYSE:INVX traded up $0.15 during trading on Friday, hitting $15.00. The stock had a trading volume of 456,425 shares, compared to its average volume of 412,498. Innovex International has a 12-month low of $11.93 and a 12-month high of $19.51. The firm has a market capitalization of $1.03 billion, a PE ratio of 10.64 and a beta of 0.80. The company has a quick ratio of 2.17, a current ratio of 3.87 and a debt-to-equity ratio of 0.01. The business's 50-day moving average price is $16.39.

Innovex International (NYSE:INVX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.03). Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%. The firm had revenue of $240.42 million during the quarter, compared to analysts' expectations of $247.73 million.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Public Sector Pension Investment Board raised its position in Innovex International by 30.8% during the first quarter. Public Sector Pension Investment Board now owns 122,795 shares of the company's stock valued at $2,205,000 after acquiring an additional 28,934 shares in the last quarter. Nuveen LLC acquired a new stake in Innovex International in the first quarter valued at approximately $7,089,000. Invesco Ltd. grew its holdings in Innovex International by 36.6% in the first quarter. Invesco Ltd. now owns 454,050 shares of the company's stock valued at $8,155,000 after purchasing an additional 121,582 shares during the period. Swiss National Bank grew its holdings in Innovex International by 2.3% in the first quarter. Swiss National Bank now owns 67,000 shares of the company's stock valued at $1,203,000 after purchasing an additional 1,500 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Innovex International by 6.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 365,669 shares of the company's stock valued at $6,567,000 after purchasing an additional 20,880 shares during the period.

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.