Innovex International (NYSE:INVX) Downgraded to "Hold" Rating by Wall Street Zen

Innovex International (NYSE:INVX - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Several other equities analysts have also recently weighed in on the company. Johnson Rice upgraded Innovex International to a "strong-buy" rating in a research report on Friday, May 30th. Barclays reduced their target price on Innovex International from $16.00 to $13.00 and set an "underweight" rating for the company in a report on Friday, May 9th.

Innovex International Stock Performance

NYSE INVX opened at $15.97 on Friday. The company's 50 day moving average is $15.35 and its 200-day moving average is $15.91. Innovex International has a 12-month low of $11.93 and a 12-month high of $19.42. The company has a quick ratio of 2.49, a current ratio of 4.34 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.10 billion, a P/E ratio of 6.10 and a beta of 0.82.

Innovex International (NYSE:INVX - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.03). Innovex International had a net margin of 16.68% and a return on equity of 7.14%. The business had revenue of $240.42 million during the quarter, compared to analysts' expectations of $247.73 million.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. ProShare Advisors LLC purchased a new position in shares of Innovex International during the fourth quarter worth about $145,000. GAMMA Investing LLC grew its stake in Innovex International by 4,743.9% in the 1st quarter. GAMMA Investing LLC now owns 37,734 shares of the company's stock worth $6,780,000 after buying an additional 36,955 shares in the last quarter. Cetera Investment Advisers purchased a new position in Innovex International in the 4th quarter worth approximately $152,000. Millennium Management LLC increased its holdings in shares of Innovex International by 56.8% in the 4th quarter. Millennium Management LLC now owns 83,951 shares of the company's stock worth $1,173,000 after buying an additional 30,402 shares during the last quarter. Finally, Amundi raised its position in shares of Innovex International by 218.7% during the 4th quarter. Amundi now owns 30,770 shares of the company's stock valued at $464,000 after buying an additional 21,114 shares in the last quarter.

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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