Innovex International (INVX) Projected to Release Quarterly Earnings on Monday

Key Points

• Innovex International is expected to report quarterly results after Monday’s market close, with analysts forecasting earnings of $0.30 per share and revenue of approximately $241.6 million.
• The stock opened at $26.83, with a market capitalization of $1.84 billion and a 52-week range of $15.54 to $32.25. The company maintains strong liquidity, including a current ratio of 5.10 and a debt-to-equity ratio of 0.02.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $32.25, while insider Mark Reddout recently sold $301,000 worth of shares.

Innovex International (NYSE:INVX - Get Free Report) is expected to release its results after the market closes on Monday, August 3rd. Analysts expect the company to announce earnings of $0.30 per share and revenue of $241.5770 million for the quarter.

Innovex International Stock Down 0.0%

INVX opened at $26.83 on Monday. Innovex International has a fifty-two week low of $15.54 and a fifty-two week high of $32.25. 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 firm's fifty day moving average price is $26.84 and its two-hundred day moving average price is $26.05. The company has a market capitalization of $1.84 billion, a P/E ratio of 35.77 and a beta of 0.83.

Insider Activity

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

Hedge Funds Weigh In On Innovex International

Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in Innovex International by 418.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company's stock worth $55,000 after buying an additional 2,843 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Innovex International in the fourth quarter valued at approximately $55,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Innovex International by 2,334.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,868 shares of the company's stock worth $106,000 after acquiring an additional 4,668 shares in the last quarter. Polymer Capital Management US LLC bought a new stake in Innovex International during the 3rd quarter worth approximately $197,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Innovex International during the 4th quarter worth approximately $209,000.

Analysts Set New Price Targets

A number of research firms have recently commented on INVX. Jefferies Financial Group raised shares of Innovex International to a "strong-buy" rating in a report on Friday, June 12th. Citigroup initiated coverage on shares of Innovex International in a research note on Thursday, May 7th. They issued a "buy" rating and a $35.00 target price on the stock. Wall Street Zen raised shares of Innovex International from a "hold" rating to a "buy" rating in a research report on Monday, June 22nd. Weiss Ratings cut shares of Innovex International from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Finally, Barclays lifted their price objective on Innovex International from $24.00 to $26.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Innovex International currently has a consensus rating of "Moderate Buy" and an average target price of $32.25.

About Innovex International

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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