CenterBook Partners LP Sells 63,600 Shares of Innovex International, Inc. (NYSE:INVX)

Key Points

• CenterBook Partners LP has reduced its holdings in Innovex International, Inc. by 25%, now owning approximately 0.27% of the company after selling 63,600 shares.
• Innovex reported a quarterly EPS of $0.28, exceeding estimates, and had a revenue of $224.23 million, which fell short of the consensus estimate.
• Analysts have varied opinions on Innovex, with Barclays setting a price target of $13.00, while Piper Sandler has an overweight rating and a price target of $20.00.

CenterBook Partners LP reduced its position in shares of Innovex International, Inc. (NYSE:INVX - Free Report) by 25.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 190,549 shares of the company's stock after selling 63,600 shares during the period. CenterBook Partners LP owned 0.27% of Innovex International worth $3,422,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Innovex International by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 4,306,348 shares of the company's stock worth $77,342,000 after buying an additional 43,343 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Innovex International by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,940,375 shares of the company's stock worth $27,107,000 after acquiring an additional 27,726 shares during the period. Madison Avenue Partners LP lifted 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 acquiring an additional 662,009 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Innovex International by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 816,945 shares of the company's stock worth $11,416,000 after acquiring an additional 35,611 shares during the period. Finally, Investment Management Associates Inc. ADV bought a new position in shares of Innovex International during the 1st quarter worth about $6,937,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on INVX shares. Barclays reduced their price objective on shares of 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 shares of Innovex International from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Piper Sandler began coverage on shares of Innovex International in a research report on Tuesday, July 15th. They issued an "overweight" rating and a $20.00 price objective for the company. Finally, Johnson Rice upgraded shares of Innovex International to a "strong-buy" rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $16.50.

Innovex International Price Performance

INVX traded down $0.14 during midday trading on Monday, hitting $16.06. The company had a trading volume of 55,271 shares, compared to its average volume of 407,489. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.69 and a current ratio of 4.60. The company has a market capitalization of $1.10 billion, a PE ratio of 5.56 and a beta of 0.79. Innovex International, Inc. has a twelve month low of $11.93 and a twelve month high of $19.42. The firm's 50-day simple moving average is $16.04 and its 200-day simple moving average is $16.14.

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

Innovex International 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.