Innovex International (NYSE:INVX) Trading 4% Higher – Here’s Why

Innovex International, Inc. (NYSE:INVX)’s stock price traded up 4% on Thursday . The stock traded as high as $15.89 and last traded at $15.88. 23,478 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 420,029 shares. The stock had previously closed at $15.27.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barclays upped their price objective on shares of Innovex International from $15.00 to $16.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 5th. Pickering Energy Partners upgraded Innovex International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th.

Innovex International Price Performance

The business has a 50 day simple moving average of $16.97. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 11.49 and a beta of 0.78. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.87 and a quick ratio of 2.17.

Innovex International (NYSE:INVX) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.21. The business had revenue of $250.69 million for the quarter. Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%.

Institutional Investors Weigh In On Innovex International

Several institutional investors have recently added to or reduced their stakes in INVX. Amalgamated Bank boosted its position in shares of Innovex International by 6.2% during the fourth quarter. Amalgamated Bank now owns 10,853 shares of the company’s stock valued at $152,000 after purchasing an additional 630 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Innovex International by 9.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,852 shares of the company’s stock worth $124,000 after acquiring an additional 758 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Innovex International by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,626 shares of the company’s stock worth $274,000 after acquiring an additional 836 shares in the last quarter. Maryland State Retirement & Pension System grew its holdings in Innovex International by 9.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 12,681 shares of the company’s stock worth $177,000 after purchasing an additional 1,047 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its holdings in shares of Innovex International by 5.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 20,878 shares of the company’s stock valued at $292,000 after purchasing an additional 1,149 shares during the last quarter.

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.