New Age Alpha Advisors LLC Makes New Investment in Innovex International, Inc. (NYSE:INVX)

Key Points

• New Age Alpha Advisors LLC acquired 81,697 shares of Innovex International, Inc. valued at approximately $1,467,000 during the first quarter, representing a 0.12% stake in the company.
• Innovex International's stock opened at $15.99 with a market capitalization of $1.10 billion and a recent P/E ratio of 5.53.
• Analysts have varying opinions on Innovex International, with target price estimates ranging widely from $13.00 to $20.00 and an average rating of "Moderate Buy."

New Age Alpha Advisors LLC acquired a new stake in Innovex International, Inc. (NYSE:INVX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 81,697 shares of the company's stock, valued at approximately $1,467,000. New Age Alpha Advisors LLC owned 0.12% of Innovex International as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of INVX. Madison Avenue Partners LP grew its holdings in shares of Innovex International by 64.6% during the 4th 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 in the last quarter. Investment Management Associates Inc. ADV acquired a new stake in Innovex International in the first quarter valued at approximately $6,937,000. Vanguard Group Inc. boosted its position in Innovex International by 5.5% in 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. Invesco Ltd. raised its stake in shares of Innovex International by 175.8% during the 4th quarter. Invesco Ltd. now owns 332,468 shares of the company's stock valued at $4,645,000 after purchasing an additional 211,907 shares during the period. Finally, GeoSphere Capital Management LLC purchased a new position in Innovex International during the fourth quarter worth about $2,794,000.

Wall Street Analyst Weigh In

INVX has been the subject of several analyst reports. Johnson Rice upgraded Innovex International to a "strong-buy" rating in a report on Friday, May 30th. Barclays dropped their target price on Innovex International from $16.00 to $13.00 and set an "underweight" rating for the company in a report on Friday, May 9th. Wall Street Zen cut Innovex International from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Piper Sandler began coverage on Innovex International in a research report on Tuesday, July 15th. They issued an "overweight" rating and a $20.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $16.50.

Innovex International Stock Up 1.6%

Shares of INVX stock traded up $0.26 during mid-day trading on Tuesday, hitting $16.05. The company's stock had a trading volume of 106,787 shares, compared to its average volume of 407,330. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 5.55 and a beta of 0.79. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.69 and a current ratio of 4.60. Innovex International, Inc. has a 52-week low of $11.93 and a 52-week high of $19.42. The business has a 50-day moving average price of $16.07 and a 200 day moving average price of $16.14.

Innovex International (NYSE:INVX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. The company had revenue of $224.23 million during the quarter, compared to analysts' expectations of $230.00 million. Innovex International had a return on equity of 8.58% and a net margin of 16.66%.

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.