Innovex International (NYSE:INVX) Reaches New 1-Year Low on Disappointing Earnings

Innovex International, Inc. (NYSE:INVX - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $11.93 and last traded at $12.96, with a volume of 9203 shares trading hands. The stock had previously closed at $15.03.

The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%. The firm had revenue of $240.42 million during the quarter, compared to analysts' expectations of $247.73 million.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Pickering Energy Partners upgraded Innovex International from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th. Barclays lowered their target price on shares of Innovex International from $16.00 to $13.00 and set an "underweight" rating for the company in a report on Friday.

Institutional Investors Weigh In On Innovex International

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC acquired a new position in shares of Innovex International in the 3rd quarter valued at about $874,000. JPMorgan Chase & Co. purchased a new position in Innovex International in the third quarter valued at approximately $2,261,000. Moody National Bank Trust Division acquired a new position in Innovex International during the fourth quarter valued at approximately $234,000. Sanctuary Advisors LLC grew its stake in Innovex International by 20.5% during the fourth quarter. Sanctuary Advisors LLC now owns 47,146 shares of the company's stock worth $659,000 after buying an additional 8,008 shares during the period. Finally, D.A. Davidson & CO. acquired a new stake in shares of Innovex International in the fourth quarter worth $193,000.

Innovex International Trading Down 5.1 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.87. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 10.54 and a beta of 0.80. The company's 50 day simple moving average is $16.44.

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.