Innovex International (NYSE:INVX) Stock Rating Upgraded by Wall Street Zen

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

Other analysts have also issued research reports about the stock. Barclays lowered their price objective on shares of Innovex International from $16.00 to $13.00 and set an "underweight" rating on the stock in a research report on Friday, May 9th. Johnson Rice raised shares of Innovex International to a "strong-buy" rating in a research report on Friday, May 30th.

Innovex International Stock Up 3.2%

Innovex International stock traded up $0.48 during midday trading on Friday, hitting $15.61. 254,012 shares of the stock were exchanged, compared to its average volume of 406,066. Innovex International has a 52-week low of $11.93 and a 52-week high of $19.42. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 11.07 and a beta of 0.79. The business's 50-day moving average price is $15.08 and its 200-day moving average price is $15.80. The company has a quick ratio of 2.17, a current ratio of 3.87 and a debt-to-equity ratio of 0.01.

Innovex International (NYSE:INVX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). The company had revenue of $240.42 million during the quarter, compared to the consensus estimate of $247.73 million. Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%.

Institutional Trading of Innovex International

Several hedge funds have recently added to or reduced their stakes in INVX. Brandes Investment Partners LP raised its position in shares of Innovex International by 41.3% in the fourth quarter. Brandes Investment Partners LP now owns 6,304,068 shares of the company's stock valued at $88,068,000 after purchasing an additional 1,841,686 shares during the period. Wellington Management Group LLP raised its position in shares of Innovex International by 755.9% in the first quarter. Wellington Management Group LLP now owns 1,020,266 shares of the company's stock valued at $18,324,000 after purchasing an additional 901,066 shares during the period. Madison Avenue Partners LP raised its position in shares of Innovex International by 64.6% in the fourth quarter. Madison Avenue Partners LP now owns 1,686,476 shares of the company's stock valued at $23,560,000 after purchasing an additional 662,009 shares during the period. Nuveen LLC bought a new stake in shares of Innovex International in the first quarter valued at approximately $7,089,000. Finally, Investment Management Associates Inc. ADV bought a new stake in shares of Innovex International in the first quarter valued at approximately $6,937,000.

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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