Innovex International, Inc. (NYSE:INVX) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts consensus: Hold — Five analysts rate INVX with an overall "Hold" (1 sell, 2 hold, 1 buy, 1 strong buy) and an average 1‑year price target of $25.50.
• Large insider selling — Director Co‑Invest Fund sold 6,612,500 shares for about $162.6M and the CEO sold 18,837 shares, with insiders selling 13,257,078 shares worth $326.1M over the past 90 days while still owning 34.90% of the stock.
• Q4 results mixed — EPS missed at $0.20 vs. $0.29 expected, but revenue beat at $273.6M vs. $240.0M; the stock recently traded near $27.91 with a market cap of $1.91B and a P/E of 23.26.

Innovex International, Inc. (NYSE:INVX - Get Free Report) has been assigned a consensus recommendation of "Hold" from the five analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $25.50.

Several equities analysts recently issued reports on INVX shares. Weiss Ratings cut Innovex International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, February 27th. Barclays raised their price objective on Innovex International from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 3rd. Finally, Zacks Research cut Innovex International from a "hold" rating to a "strong sell" rating in a research note on Wednesday, March 4th.

Insider Activity at Innovex International

In related news, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of Innovex International stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the sale, the director directly owned 399 shares in the company, valued at $9,811.41. The trade was a 99.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam Anderson sold 18,837 shares of Innovex International stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $28.50, for a total transaction of $536,854.50. Following the sale, the chief executive officer owned 466,744 shares in the company, valued at approximately $13,302,204. This represents a 3.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,257,078 shares of company stock worth $326,097,112 over the last ninety days. 34.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Covestor Ltd increased its stake in Innovex International by 26,300.0% in the 3rd quarter. Covestor Ltd now owns 1,848 shares of the company's stock worth $34,000 after purchasing an additional 1,841 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Innovex International by 31.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company's stock valued at $40,000 after acquiring an additional 511 shares in the last quarter. Strs Ohio purchased a new position in Innovex International during the 4th quarter valued at about $44,000. Westfuller Advisors LLC purchased a new position in Innovex International during the 3rd quarter valued at about $53,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Innovex International during the 4th quarter valued at about $55,000.

Innovex International Stock Up 2.3%

INVX stock opened at $27.91 on Friday. Innovex International has a twelve month low of $11.93 and a twelve month high of $29.48. The company has a current ratio of 4.91, a quick ratio of 3.24 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.91 billion, a P/E ratio of 23.26 and a beta of 0.75. The firm has a 50 day simple moving average of $25.71 and a 200-day simple moving average of $23.43.

Innovex International (NYSE:INVX - Get Free Report) last released its quarterly earnings results on Monday, February 23rd. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.09). Innovex International had a return on equity of 6.55% and a net margin of 8.52%.The company had revenue of $273.60 million for the quarter, compared to analyst estimates of $240.00 million. On average, equities research analysts predict that Innovex International will post 1.32 earnings per share for the current fiscal year.

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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