Innovex International, Inc. (NYSE:INVX) Stock Has Consensus Price Target of $32.75

Innovex International, Inc. (NYSE:INVX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $32.75.

Several analysts have commented on the stock. Citigroup boosted their price target on shares of Innovex International from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, August 26th. Zacks Research lowered Innovex International from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 17th. Barclays boosted their price objective on shares of Innovex International from $26.00 to $27.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 11th. Weiss Ratings raised shares of Innovex International from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Finally, Wall Street Zen downgraded shares of Innovex International from a "buy" rating to a "hold" rating in a research report on Monday, August 17th.

Innovex International Stock Performance

Shares of NYSE:INVX traded up $0.60 during mid-day trading on Friday, reaching $27.99. 373,009 shares of the company traded hands, compared to its average volume of 721,498. The firm has a market cap of $1.96 billion, a PE ratio of 31.45 and a beta of 0.92. Innovex International has a 52 week low of $17.46 and a 52 week high of $33.71. The company's 50 day moving average price is $29.05 and its 200-day moving average price is $27.62. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.01 and a quick ratio of 3.32.

Innovex International (NYSE:INVX - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. Innovex International had a net margin of 6.17% and a return on equity of 7.12%. The company had revenue of $244.90 million for the quarter, compared to analysts' expectations of $241.58 million. On average, equities analysts expect that Innovex International will post 1.44 EPS for the current fiscal year.

Insider Buying and Selling at Innovex International

In related news, Director Amberjack Capital Partners, L. sold 5,000,000 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $28.71, for a total value of $143,550,000.00. Following the sale, the director owned 311 shares in the company, valued at $8,928.81. This represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Co-Invest Fund L.P. Innovex sold 4,954,467 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $28.71, for a total transaction of $142,242,747.57. Following the transaction, the director owned 311 shares of the company's stock, valued at $8,928.81. This represents a 99.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 9,964,467 shares of company stock worth $286,092,748. 34.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Innovex International

Several large investors have recently made changes to their positions in INVX. BlackRock Inc. acquired a new stake in Innovex International in the second quarter valued at approximately $160,389,000. Bank of America Corp DE acquired a new position in Innovex International in the second quarter valued at approximately $16,540,000. William Blair Investment Management LLC acquired a new position in shares of Innovex International in the 2nd quarter valued at $11,492,000. Heartland Advisors Inc. purchased a new stake in shares of Innovex International in the 2nd quarter valued at approximately $11,020,000. Finally, Dimensional Fund Advisors LP lifted its stake in Innovex International by 14.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,646,376 shares of the company's stock worth $64,544,000 after purchasing an additional 335,839 shares in the last quarter.

About Innovex International

Innovex International, Inc NYSE: INVX is an oilfield technology company that develops and supplies equipment and services used throughout the life cycle of oil and natural gas wells. Its offerings support drilling, well completion, production, intervention and related downhole operations for exploration and production companies and oilfield service providers.

The company's product portfolio includes technologies for well construction and tubular handling, completion systems, production equipment and intervention applications.

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