Innovex International (NYSE:INVX) Rating Increased to Strong-Buy at Jefferies Financial Group

Innovex International (NYSE:INVX) was upgraded by Jefferies Financial Group to a “strong-buy” rating in a note issued to investors on Friday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Zacks Research raised Innovex International from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Citigroup initiated coverage on Innovex International in a research note on Thursday, May 7th. They set a “buy” rating and a $35.00 target price for the company. Wall Street Zen raised Innovex International from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Piper Sandler increased their price target on Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Finally, Weiss Ratings downgraded shares of Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Innovex International has an average rating of “Moderate Buy” and a consensus price target of $32.25.

Innovex International Stock Up 2.6%

Shares of NYSE INVX opened at $29.50 on Friday. The company has a market capitalization of $2.03 billion, a P/E ratio of 39.33 and a beta of 0.82. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.38 and a current ratio of 5.10. Innovex International has a 52-week low of $14.65 and a 52-week high of $32.25. The company’s 50 day moving average price is $27.51 and its 200-day moving average price is $25.39.

Insider Transactions at Innovex International

In other Innovex International news, insider Mark Reddout sold 10,750 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $28.00, for a total value of $301,000.00. Following the completion of the sale, the insider owned 134,312 shares of the company’s stock, valued at approximately $3,760,736. This trade represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 34.90% of the company’s stock.

Hedge Funds Weigh In On Innovex International

Large investors have recently modified their holdings of the company. Glenmede Trust Co. NA bought a new position in shares of Innovex International in the 1st quarter worth $709,000. Bank of America Corp DE raised its holdings in Innovex International by 102.5% during the first quarter. Bank of America Corp DE now owns 654,265 shares of the company’s stock worth $15,958,000 after buying an additional 331,178 shares during the last quarter. Amundi acquired a new position in shares of Innovex International during the first quarter valued at about $310,000. Royal Bank of Canada increased its position in shares of Innovex International by 21.8% during the first quarter. Royal Bank of Canada now owns 35,554 shares of the company’s stock worth $867,000 after acquiring an additional 6,374 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Innovex International by 3.6% during the first quarter. Empowered Funds LLC now owns 325,179 shares of the company’s stock worth $7,931,000 after acquiring an additional 11,259 shares in the last quarter.

About Innovex International

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.