Innovex International, Inc. (NYSE:INVX) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Consensus "Hold": Five analysts give Innovex a consensus rating of "Hold" (1 sell, 2 hold, 1 buy, 1 strong buy) with an average 1‑year price target of $25.50.
• Quarterly results showed a mixed print: Innovex missed EPS at $0.20 versus $0.29 expected, but beat revenue expectations with $273.6 million versus $240.0 million projected.
• Heavy insider activity: Insiders sold about 13.29 million shares valued at $326.9 million over the past three months (including CEO sales), though insiders still own 43.9% of the company.

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

INVX has been the subject of a number of research analyst reports. Weiss Ratings downgraded shares of Innovex International from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, February 27th. Piper Sandler boosted their target price on shares of Innovex International from $20.00 to $27.00 and gave the company an "overweight" rating in a research note on Thursday, December 18th. Barclays increased their target price on shares of Innovex International from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 3rd. Finally, Zacks Research lowered shares of Innovex International from a "hold" rating to a "strong sell" rating in a research note on Wednesday, March 4th.

Innovex International Stock Down 3.5%

Shares of NYSE:INVX opened at $24.26 on Tuesday. Innovex International has a 1 year low of $11.93 and a 1 year high of $29.48. The company has a market capitalization of $1.68 billion, a PE ratio of 20.22 and a beta of 0.72. The business has a fifty day moving average price of $25.43 and a two-hundred day moving average price of $22.43. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.91 and a quick ratio of 3.24.

Innovex International (NYSE:INVX - Get Free Report) last released its earnings results on Monday, February 23rd. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.09). The business had revenue of $273.60 million for the quarter, compared to the consensus estimate of $240.00 million. Innovex International had a return on equity of 6.55% and a net margin of 8.52%.

Insider Transactions at Innovex International

In other Innovex International news, CEO Adam Anderson sold 18,837 shares of the business's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $28.50, for a total value of $536,854.50. Following the sale, the chief executive officer directly owned 466,744 shares in the company, valued at $13,302,204. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark Reddout sold 20,000 shares of the company's stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $25.00, for a total value of $500,000.00. Following the transaction, the insider directly owned 129,436 shares in the company, valued at $3,235,900. This represents a 13.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,290,319 shares of company stock valued at $326,928,137 in the last three months. 43.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Innovex International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dean Capital Management lifted its holdings in Innovex International by 2.7% during the fourth quarter. Dean Capital Management now owns 143,490 shares of the company's stock valued at $3,138,000 after purchasing an additional 3,834 shares during the last quarter. Invesco Ltd. increased its stake in shares of Innovex International by 8.8% in the fourth quarter. Invesco Ltd. now owns 374,633 shares of the company's stock worth $8,193,000 after purchasing an additional 30,451 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Innovex International in the fourth quarter worth about $294,000. Millennium Management LLC bought a new stake in shares of Innovex International in the fourth quarter valued at approximately $600,000. Finally, Gotham Asset Management LLC bought a new stake in shares of Innovex International in the fourth quarter valued at approximately $680,000.

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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