Innovex International (INVX) Projected to Release Earnings on Thursday

Key Points

• Innovex International is expected to report earnings after the market closes Thursday, October 29. Analysts forecast quarterly EPS of $0.3879 and revenue of $265.96 million.
• The company’s previous quarter exceeded expectations, with EPS of $0.36 versus the $0.31 consensus and revenue of $244.90 million versus $241.58 million expected.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $32.75, while insiders have sold nearly 10 million shares worth approximately $286.1 million over the past 90 days.

Innovex International (NYSE:INVX - Get Free Report) is projected to announce its results after the market closes on Thursday, October 29th. Analysts expect Innovex International to post earnings of $0.3879 per share and revenue of $265.96 million for the quarter.

Innovex International (NYSE:INVX - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.05. The company had revenue of $244.90 million during the quarter, compared to analysts' expectations of $241.58 million. Innovex International had a return on equity of 7.12% and a net margin of 6.17%. On average, analysts expect Innovex International to post $1.44 EPS for the current fiscal year and $1.81 EPS for the next fiscal year.

Innovex International Price Performance

INVX stock opened at $27.91 on Friday. The company has a 50 day simple moving average of $28.92 and a 200 day simple moving average of $27.76. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 31.35 and a beta of 0.92. Innovex International has a 1 year low of $19.07 and a 1 year high of $33.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.01 and a quick ratio of 3.32.

Insider Buying and Selling

In related news, Director Amberjack Capital Partners, L. sold 5,000,000 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $28.71, for a total transaction of $143,550,000.00. Following the completion of the transaction, the director directly owned 311 shares of the company's stock, valued at $8,928.81. This trade represents a 99.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Co-Invest Fund L.P. Innovex sold 4,954,467 shares of Innovex International stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $28.71, for a total value of $142,242,747.57. Following the transaction, the director directly owned 311 shares in the company, valued at $8,928.81. The trade was a 99.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,964,467 shares of company stock valued at $286,092,748 over the last 90 days. 34.90% of the stock is owned by insiders.

Analyst Ratings Changes

INVX has been the topic of several recent research reports. Weiss Ratings raised Innovex International from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Barclays boosted their price objective on Innovex International from $26.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 11th. Citigroup upped their target price on Innovex International from $35.00 to $36.00 and gave the stock a "buy" rating in a report on Wednesday, August 26th. Zacks Research downgraded Innovex International from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 17th. Finally, Wall Street Zen lowered Innovex International from a "buy" rating to a "hold" rating in a research note on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $32.75.

About Innovex International

Innovex International, Inc is an energy technology and oilfield equipment company that provides products and services used throughout the life cycle of oil and natural gas wells. Its offerings support drilling, completion, production, intervention and other well-construction and well-maintenance activities for operators and oilfield service companies.

The company's portfolio includes downhole tools and technologies, completion equipment, wellhead and production systems, and equipment used in onshore and offshore applications.

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