CenterBook Partners LP Has $3.42 Million Position in 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 lowered its position in Innovex International, Inc. (NYSE:INVX - Free Report) by 25.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 190,549 shares of the company's stock after selling 63,600 shares during the quarter. CenterBook Partners LP owned about 0.27% of Innovex International worth $3,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. US Bancorp DE boosted its holdings in shares of Innovex International by 234.0% in the first quarter. US Bancorp DE now owns 1,533 shares of the company's stock valued at $28,000 after acquiring an additional 1,074 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Innovex International by 169.7% in the first quarter. GAMMA Investing LLC now owns 2,101 shares of the company's stock valued at $38,000 after acquiring an additional 1,322 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Innovex International in the fourth quarter valued at approximately $88,000. PNC Financial Services Group Inc. boosted its holdings in Innovex International by 15.6% during the first quarter. PNC Financial Services Group Inc. now owns 5,880 shares of the company's stock worth $106,000 after buying an additional 794 shares in the last quarter. Finally, ProShare Advisors LLC bought a new stake in Innovex International during the fourth quarter worth approximately $145,000.

Innovex International Trading Up 1.1%

Shares of NYSE:INVX traded up $0.18 during mid-day trading on Friday, hitting $16.15. The stock had a trading volume of 343,787 shares, compared to its average volume of 389,554. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.49 and a current ratio of 4.60. The company has a market cap of $1.11 billion, a PE ratio of 5.59 and a beta of 0.79. Innovex International, Inc. has a 12-month low of $11.93 and a 12-month high of $19.42. The company's 50 day moving average is $16.04 and its 200-day moving average is $16.15.

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

Wall Street Analyst Weigh In

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

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.