Innovex International (NYSE:INVX) Given New $26.00 Price Target at Barclays

Innovex International (NYSE:INVX) had its target price increased by Barclays from $24.00 to $26.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

INVX has been the topic of several other reports. Zacks Research cut shares of Innovex International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 4th. Citigroup started coverage on shares of Innovex International in a research report on Thursday. They set a “buy” rating and a $35.00 price target on the stock. Finally, Weiss Ratings cut shares of Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.33.

Innovex International Price Performance

Shares of NYSE INVX opened at $26.59 on Friday. The firm has a market cap of $1.83 billion, a PE ratio of 35.46 and a beta of 0.84. The company has a current ratio of 5.10, a quick ratio of 3.24 and a debt-to-equity ratio of 0.02. Innovex International has a 1-year low of $13.44 and a 1-year high of $29.48. The company has a fifty day moving average price of $25.94 and a 200 day moving average price of $23.97.

Innovex International (NYSE:INVX) last announced its earnings results on Monday, February 23rd. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.09). The company had revenue of $273.60 million during the quarter, compared to analyst estimates of $240.00 million. Innovex International had a return on equity of 6.72% and a net margin of 5.31%. Research analysts predict that Innovex International will post 1.32 earnings per share for the current fiscal year.

Insider Transactions at Innovex International

In other Innovex International news, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the completion of the transaction, the director directly owned 399 shares in the company, valued at $9,811.41. The trade was a 99.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam Anderson sold 18,837 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $28.50, for a total transaction of $536,854.50. Following the transaction, the chief executive officer owned 466,744 shares of the company’s stock, valued at approximately $13,302,204. This represents a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 13,257,078 shares of company stock valued at $326,097,112. Company insiders own 34.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in Innovex International by 14.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,646,376 shares of the company’s stock valued at $64,544,000 after purchasing an additional 335,839 shares in the last quarter. Wellington Management Group LLP lifted its stake in Innovex International by 52.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock valued at $45,141,000 after purchasing an additional 837,027 shares during the last quarter. State Street Corp raised its stake in shares of Innovex International by 0.7% during the fourth quarter. State Street Corp now owns 1,601,149 shares of the company’s stock valued at $35,017,000 after acquiring an additional 11,160 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Innovex International by 2.6% during the fourth quarter. MetLife Investment Management LLC now owns 828,757 shares of the company’s stock valued at $18,125,000 after acquiring an additional 20,873 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Innovex International during the fourth quarter worth $12,702,000.

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.