Innovex International (NYSE:INVX) Upgraded by Wall Street Zen to "Buy" Rating

Wall Street Zen upgraded shares of Innovex International (NYSE:INVX - Free Report) from a hold rating to a buy rating in a report issued on Friday morning.

Several other research analysts have also commented on INVX. Barclays cut their price objective on Innovex International from $16.00 to $13.00 and set an "underweight" rating for the company in a report on Friday, May 9th. Johnson Rice upgraded shares of Innovex International to a "strong-buy" rating in a research report on Friday, May 30th.

Innovex International Price Performance

Shares of INVX traded up $0.44 during mid-day trading on Friday, reaching $16.01. 332,617 shares of the stock traded hands, compared to its average volume of 405,386. The firm has a fifty day moving average price of $15.04 and a 200 day moving average price of $15.80. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 11.35 and a beta of 0.79. The company has a current ratio of 3.87, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01. Innovex International has a 1 year low of $11.93 and a 1 year high of $19.42.

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

Institutional Trading of Innovex International

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Brandes Investment Partners LP boosted its position in Innovex International by 41.3% during the fourth quarter. Brandes Investment Partners LP now owns 6,304,068 shares of the company's stock valued at $88,068,000 after buying an additional 1,841,686 shares during the period. Wellington Management Group LLP boosted its position in Innovex International by 755.9% during the first quarter. Wellington Management Group LLP now owns 1,020,266 shares of the company's stock valued at $18,324,000 after buying an additional 901,066 shares during the period. Madison Avenue Partners LP boosted its position in Innovex International by 64.6% during the fourth quarter. Madison Avenue Partners LP now owns 1,686,476 shares of the company's stock valued at $23,560,000 after buying an additional 662,009 shares during the period. Nuveen LLC purchased a new stake in Innovex International during the first quarter valued at about $7,089,000. Finally, Investment Management Associates Inc. ADV purchased a new stake in Innovex International during the first quarter valued at about $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.