Innovex International, Inc. (NYSE:INVX) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Innovex International has a “Moderate Buy” consensus rating from six analysts, with three holds, one buy, and two strong buys. The average 12-month price target is $32.25, versus a recent share price of $28.16.
• Recent analyst actions were mixed but generally positive: Citigroup initiated coverage with a $35 buy target, Piper Sandler raised its target to $34 with an overweight rating, and Jefferies upgraded the stock to strong buy, while Wall Street Zen downgraded it to hold.
• Insider Mark Reddout sold 10,750 shares for approximately $301,000, while several institutional investors established new positions. INVX trades near $28, has a $1.94 billion market capitalization, and remains below its 52-week high of $32.25.

Shares of Innovex International, Inc. (NYSE:INVX - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six analysts that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $32.25.

INVX has been the topic of a number of analyst reports. Wall Street Zen cut shares of Innovex International from a "buy" rating to a "hold" rating in a research note on Saturday. Citigroup assumed coverage on Innovex International in a research note on Thursday, May 7th. They issued a "buy" rating and a $35.00 price target for the company. Weiss Ratings cut Innovex International from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Piper Sandler boosted their price objective on Innovex International from $33.00 to $34.00 and gave the company an "overweight" rating in a research report on Monday, May 18th. Finally, Jefferies Financial Group raised Innovex International to a "strong-buy" rating in a research note on Friday, June 12th.

Insider Transactions at Innovex International

In related news, insider Mark Reddout sold 10,750 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $28.00, for a total value of $301,000.00. Following the transaction, the insider directly owned 134,312 shares of the company's stock, valued at approximately $3,760,736. The trade was a 7.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 34.90% of the company's stock.

Institutional Investors Weigh In On Innovex International

Several institutional investors and hedge funds have recently modified their holdings of INVX. Simcoe Capital LLC bought a new position in shares of Innovex International during the fourth quarter worth $3,625,000. Hussman Strategic Advisors Inc. bought a new stake in Innovex International in the 4th quarter valued at $919,000. Royce & Associates LP bought a new stake in Innovex International in the 4th quarter valued at $415,000. Avidian Wealth Enterprises LLC purchased a new stake in Innovex International in the 4th quarter worth $5,821,000. Finally, Horizon Investments LLC purchased a new stake in Innovex International in the 4th quarter worth $615,000.

Innovex International Stock Performance

Shares of NYSE INVX opened at $28.16 on Monday. The firm has a fifty day moving average price of $26.43 and a 200-day moving average price of $26.17. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.10 and a quick ratio of 3.38. The stock has a market cap of $1.94 billion, a PE ratio of 37.54 and a beta of 0.83. Innovex International has a 1 year low of $15.54 and a 1 year high of $32.25.

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.

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